We’re not safe from another financial crisis – Media and Blog roundup: March 11th 2013

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MPs: We’re not safe from another financial crisis

“George Osborne has been accused of bowing to pressure from the banks after watering down plans to restrict riskier forms of lending. The Chancellor will face criticism from the Parliamentary Commission for Banking for rejecting a number of suggestions it put forward in December to strengthen the industry, including tightening the rules on lending.” – The Times (£)

“Sweeping reforms to Britain’s scandal hit banks will fail to protect the public from another financial crisis, the Government will be warned today. In an embarrassing rebuke, the influential banking commission of MPs and peers accuses the government of succumbing to powerful lobbying from banks. It criticises the coalition for trying to ‘railroad ‘ through watered down plans to make the banking system safer, and calls for more hard line powers to break up all lenders’ High Street operations from their ‘casino’ banks if they try to break new rules.” – Daily Mail

Cameron faces (even more) backbench revolt 

“As pressure on the Prime Minister’s leadership intensified, Dr Wollaston called on Mr Cameron to reshuffle his Cabinet within weeks and promote more women. It is essential for the Conservatives to reconnect with voters before May’s local elections, she said. The MP issued her call amid reports that Theresa May, the Home Secretary, was positioning herself to succeed Mr Cameron after a series of poor opinion polls and election results. One senior minister admitted that there were “question marks” over the Conservative leadership, while Liam Fox, the former defence secretary, will today urge the party to set “a clear philosophical course” on the economy.” – Telegraph

” Tory splits over austerity will be laid bare today when a former Cabinet minister calls on George Osborne to abandon the ring-fence that has protected the NHS, schools and the aid budget from cuts. The former Defence Secretary, Liam Fox, will lay out proposals for a radical revamp of the economy based on lower taxes and a smaller state. They include a call for Capital Gains Tax to be cut temporarily to zero and a wholesale rethink about the taxation of earnings and savings.” – The Times (£)

Other highlights

• Theresa May-nia won’t become contagious – Tim Montgomerie, Times(£)
• David Cameron may even last as he leads his MPs to their doom – Gaby Hinsliff, Guardian
• Cameron’s days at No 10 may be numbered, but the national agenda is still set by the right – Owen Jones, Independent