The lesser evil: increase IPT!

The Financial Services Compensation Scheme (FSCS) was hijacked on the eve of the Tory conference last year as a means of brushing under the carpet £14bn worth of Bradford & Bingley's questionable assets and turning them into a debt owed to the government at some future date. Since then, we have seen Icelandic meltdowns and goodness knows what else; much of it has been covered by the political figleaf of the FSCS.

The FSCS is not some big fund that springs into action when problems occur; it has a

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