The Northern Rock's problems, and those of the Treasury, and by proxy taxpayers, continue to rumble, and with each new day the looming fear of nationalisation being the only way taxpayers will get their money, in the long term, looks more inevitable.
The first person to openly propose it as an option, although he stated it to be the "least desirable" one was Vince Cable, the erstwhile Lib Dem Treasury Spokesman, who was then acting Lib Dem leader. Whilst dismissed at the time, by the government, they are now giving the proposal serious consideration because of fears of a financial black hole for tax payers if no private sector solution is found. Whilst none of us want nationalisation, the government has to plan for the worst case scenario.
So it is slightly socking to hear that the Tories are saying that they would not support nationalisation of The Northern Rock. Why ? So what is their solution ? Well, there isn't one. The Conservative party has nothing new to bring to the debate, no magical solution, or wisdom. They simply state that they would refuse to support nationalisation.
So what does this mean ? Well, in the first instance it is opposition for opposition's sake. It is just opposing the government for the sake of it. The Conservatives may have an ideological loathing of nationalisation (although they did nationalise Rolls Royce in the 1970's), but when it comes to the economy, when it comes to securing the best deal possible for shareholders, isn't there a responsibility on political parties to do their best for the country, and not just have debates on political philosophy ?
And what does this say about the Tories ability to be trusted to run the economy ? The "Don't ask us what we should do" line the Tories are taking does not smack of a party able to run an economy.