You would expect Gordon Brown feels he owns quite enough banks already. But some are seeing signs that he wants more. As Ben Brogan points out, prime minister’s use of the phrase “non-bank institutions” has prompted speculation that a new government bank will be born.

The idea of creating a new lending institution has already been raised in the City. Its advocates see some merit in establishing a body to lend or take stakes in medium sized companies. David Reid Scott, chairman of the advisory firm Hawkpoint, argues that it could be based on two institutions set up after the war: the Finance Corporation for Industry and the Industrial Commercial and Finance Corporation.

Cynics would say the opportunity to invoke Churchill is probably too appealing for the prime minister to resist**. If he was feeling particularly mischievous, he could even call it GB Investments. Read more