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Is the Financial System dead?

Do we have a financial system living on in a coma attached with Treasury tubes of life support, this may well suggest that the patient is in a vegatative state, but is it under NHS care or Private Care?, either way it will still cost far too much for all of us not only now but in the long term.

The burden of debt that is to be permanent yoke on all our shouders and future generations is the true cost of this chaos.

In many respects how can we blame a Bank manager when he says to a customer 'the computer says no', is it really his fault actually no, he is as the old adage goes' only following orders'.

So perhaps it is now time for us not to be using such a negativity on all of this and look on how we can create positives, the tinkering by Mr Darling with the PBR was largely a 'knee jerk' reaction to how many more tubes could be inserted into the patient on life support. There were some positives for small businessess, such as:

1. The temporary Small Business Finance Scheme, which will make £1billion available in loans for small firms

2. Businesses will also benefit from the ability to spread their tax payments out across the year on a timetable they can afford, which will bring welcome relief to those firms that desperately need to stabilise their cash flow.

3. The announcement to exempt from tax empty properties on a rateable value of £15,000; and also the deferral of an increase in the small companies tax rate.

But reducing VAT - for such a short period, NO

The MPC still needs to make one or two more steps in reducing interest rates and also ensure that the Banks pass the true benefit on or perhaps they will deservedely lose the right to remain independent and even look at the USA model and not a sloppy version of our own.

So as the Banks remain in their traumatised state, our economy will equally remain locked with them in the next door bed, perhaps it is time to either be cruel to be kind and pull the plug or move towards some more visionary thinking on stimulating the corpse.