George Trefgarne

Darling has offered an incentive for chicanery

George Trefgarne argues that nationalisation undermines fundamental principles of honesty and trust in banking

issue 01 March 2008

Imagine the scene at around 10 p.m. last Thursday night in the private apartments at Buckingham Palace. It could well have been past normal bedtime for the Queen and Prince Philip, but they were sitting up — perhaps aided by a scotch and water or some camomile tea — waiting so that Her Majesty could give gracious assent to the Banking (Special Provisions) Bill, then being rushed through the Commons.

The Queen no longer actually signs Acts of Parliament. Instead she puts her ‘sign manual’ on Letters Patent, which serves the same legal purpose of transforming a Bill into law. Even so, one cannot help feeling that this truncated ceremony was still a sort of rebuke to the Prime Minister. Its continued existence must surely get on his nerves — and never more so than on this occasion, when his economic policy was in tatters and a well-attended House of Commons was waiting for the Queen to do her constitutional duty.

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