I've got to be honest, I know very little about the financial sector or how it is regulated, but the "sweeping" changes being suggested by the Chancellor, George Osborne, don't sound that much different to me.
A powerful new body – the Consumer Protection and Markets Authority – will regulate the conduct of every authorised financial firm providing services to consumers, Mr Osborne said.
Isn't this just the FSA with a different name and a new face? Wasn't regulating the conduct of every authorised financial firm providing services to consumers what the FSA was set up to do? Isn't this just creating new quangos and regulatory bodies stuffed with faceless and unaccountable bureaucrats the same way that New Labour did?
A month into a new government and it is already indistinguishable from the government it replaced. Their ideas are the same as the last government; their way of doing things is the same as the last government and the results will be the same as the last government- hardly surprising as their policies were more or less the same as the last government and the parties now in power share the political ideology of the party last in government.
The band members might have changed, but they are still singing the same old songs.