Daily Archives: September 3, 2008

Jim Pickard

There is speculation that Alistair Darling could be removed during the forthcoming cabinet reshuffle.

The thinking is obvious. Arguments over tax policy, the timing of announcements, THAT interview in the Guardian, and so on.   

Jim Pickard

We couldn’t work out why the share prices of major housebuilders leapt yesterday (some by as much as 10 per cent) on the back of the housing package.

My theory was that some stocks are already priced for collapse – or at least for breaching their banking covenants – and are now so low that any glimmer of good news can shift the price upwards. Others thought that the stamp duty holiday and other measures could genuinely make a difference; helping the housebuilders shift their backlog of unwanted homes to some extent.

Jim Pickard

Brown’s words on hearing that Cameron (pictured below with Mikhail Saakashvili) had visited Georgia in the wake of the Russian invasion, according to the excellent Sue Cameron (no relation) in this morning’s FT.

Sue also reports that “Gordon Brown has a multi-billion pound shopping list of plans, including state-backed mortgages, which he is saving up to announce in his speech to the Labour conference later this month. Yet he has not cleared all these proposals with Chancellor Alistair Darling….”