Corporate fiduciary features in George Osborne's speech

Corporate fiduciary was one feature of a speech given by chancellor of the exchequer George Osborne to media agency Bloomberg.

The wealth management expert suggested a lack of corporate fiduciary led to the banking crisis that began in August 2007, adding stronger regulation would help the UK pull out of the recession in better shape than it was before.

Speaking yesterday (August 17th), the chancellor set out several measures to support economic recovery, reiterating the importance of a firm approach to tackling public debt.

Mr Osborne claimed "[sticking] to the course we have set ourselves on" as opposed to "denial about the scale of the deficit" was the only way to avoid financial "disaster".

He disputed the arguments of some - that too-rapid austerity measures would send Britain into a double-dip recession - saying stability was essential and adding: "the gamble would be not to act."

Some groups do not agree and the Trades Union Congress today reported on what it believes are unfair cuts that affect the poorest, including free school meals and housing benefit.  ADNFCR-2318-ID-800029713-ADNFCR