Wednesday, 1 February 2012

(Sir) Fred and 'Lord' Ashcroft

Crusader Cameron goes populist and de-knights Fred, a bit late mind. Dodgy timing.

The day before Panorama exposed Lord Ashcroft as a crook, any sign of his honours being removed? Not to mention the fuss over Hesters bonus.

Freds knighthood was at least a reward for his then sucess.
From 2000 until 2008 he presided over RBS's rapid rise to global prominence as the world's largest company by assets (£1.9 trillion), and fifth-largest bank by stock market value. Unfortunately it then had an even more rapid fall as RBS was forced into a sort of nationalisation in 2008.

In contrast Ashcroft became a Lord after a loan to the Conservative Party of (up to) £5m. Coincidental? Lord Ashcroft admitted he did not pay tax in the UK on most of his non-UK earnings, but said the undertaking agreed at the time of becoming a Lord was to be a "long term resident", and he had complied with that. On that score most of us out qualify Ashcroft, but dont hold your breath.

Others are also looking at who may be next.

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