2 April
Prime minister meets leaders of the world’s largest economies arriving at the G20 summit in London.
4 April
Treasury select committee releases the report The Banking Crisis: The Impact of the failure of the Icelandic Banks.
22 April
Treasury publishes Budget 2009.
9 December
In the pre-Budget report, government announces a tax of 50 per cent will apply to discretionary bonuses above £25,000 awarded in the period from the pre-Budget report to 5 April 2010, for each individual employee.
18 December
In its six-monthly financial stability report, Bank of England reports ‘The financial system has been significantly more stable over the past six months, underpinned by the authorities’ sustained support for the banking system and monetary policy measures.’
2010
25 February
Royal Bank of Scotland announces a loss of £3.6 billion for 2009, but says it will pay £1.3 billion in bonuses to staff.
24 March
Chancellor sounds a note of caution in his Budget statement, saying ‘There are still uncertainties. Financial markets are febrile. Oil prices have increased by over 50 per cent. Bank credit, while improved, still remains weak in many parts of the world. Confidence has not fully returned to either businesses or consumers.’
6 April
Gordon Brown calls general election for 6 May.
6 May
General election results in a hung parliament, as Labour takes 258 seats (29 per cent of the vote and a loss of 89 seats) to the Tories’ 306 (36 per cent of the vote and in increase of 97 seats) and Lib Dems’ 57 (23 per cent of the vote and a loss of 5 seats).
11 May
Gordon Brown resigns as Prime Minister.
Index
Abbey National Ref1 see also Santander
ABM AMRO Ref1, Ref2
Adonis, Andrew Ref1
Afghanistan Ref1, Ref2
AIG Ref1
Ainsworth, Bob Ref1, Ref2
Airbus Ref1
Aitkenhead, Decca Ref1, Ref2
Alexander, Douglas Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8
Alliance and Leicester Ref1, Ref2, Ref3, Ref4
Anglo Irish Bank: nationalization of (2009) Ref1, Ref2
‘animal and planet reports’ Ref1
Armstrong-Jones, Peregrine Ref1
asset protection scheme Ref1
Attlee, Clement Ref1
aviation industry Ref1
Balls, Ed Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9, Ref10, Ref11, Ref12
Bank of America Ref1, Ref2
acquisition of Merrill Lynch Ref1, Ref2, Ref3, Ref4
Bank of England Ref1, Ref2, Ref3, Ref4
buying assets scheme (2009) Ref1
cutting of interest rates Ref1
financial stability report (2008) Ref1
Governors’ two five-year terms Ref1
growth forecasts Ref1, Ref2
independence Ref1, Ref2, Ref3, Ref4
inflation report (2008) Ref1
Mervyn King’s call for Bank to be lead regulator Ref1
and liquidity issue Ref1, Ref2
launching of ‘special liquidity scheme’ Ref1, Ref2
and quantitative easing Ref1
ref1orm proposals Ref2, Ref3
relationship with banks Ref1, Ref2
relationship with FSA Ref1
and Treasury Ref1
Bank of Ireland Ref1
Bank of Scotland (now HBOS) Ref1, Ref2, Ref3, Ref4
bankers’ bonuses Ref1, Ref2, Ref3
tax on Ref1, Ref2, Ref3
Banking Act (2009) Ref1
banks/banking crisis Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9, Ref10, Ref11
boards of Ref1
crisis meetings with chief executives of biggest (2008) Ref1, Ref2
impact on world economies Ref1
lack of capital problem Ref1, Ref2, Ref3, Ref4, Ref5, Ref6
lack of concern in early briefings of Treasury officials Ref1
liquidity issue Ref1, Ref2, Ref3, Ref4, Ref5, Ref6
measures to boost lending Ref1, Ref2
monitoring of Ref1, Ref2
plummeting of shares in Ref1
reasons for not letting them fail Ref1
recapitalization of Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8
relationship with the Bank of England Ref1, Ref2
rescue plan and negotiations with Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7
and special liquidity scheme Ref1, Ref2, Ref3, Ref4, Ref5, Ref6
stabilization of Ref1
toxic loans problem Ref1, Ref2, Ref3, Ref4
Barclays Ref1, Ref2, Ref3, Ref4
and Lehman Brothers Ref1, Ref2, Ref3
Barings Ref1
BCCI Ref1
Beale, Graham Ref1
Bear Stearns Ref1
collapse of and acquisition of by JPMorgan Chase Ref1, Ref2, Ref3, Ref4
benefits system Ref1
Berlusconi, Silvio Ref1
Beveridge Report Ref1
Big Noise Ref1
Black Wednesday (1992) Ref1, Ref2
Blair, Tony Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9
relationship with Brown Ref1, Ref2, Ref3
stepping down (2007) Ref1
style and manner Ref1
Blanchflower, David ‘Danny’ Ref1
Blank, Sir Victor Ref1
Blears, Hazel Ref1, Ref2
Blunkett, David Ref1, Ref2, Ref3
BNP (British National Party) Ref1
BNP Paribas: freezing of funds by Ref1, Ref2
Borg, Anders Ref1
borrowing Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9, Ref10, Ref11, Ref12, Ref13, Ref14, Ref15, Ref16
Bos, Wouter Ref1
Bowman, Mark Ref1
Bradford and Bingley Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9
Bradshaw, David Ref1
Branson, Richard Ref1
Bright, Martin Ref1
Brown, Gordon Ref1, Ref2, Ref3, Ref4, Ref5, Ref6
and abolishment of 10p income tax rate Ref1, Ref2, Ref3, Ref4, Ref5
appointment of Darling as Chancellor Ref1
backbenchers’ view of leadership Ref1
and Balls Ref1, Ref2, Ref3
and bankers’ bonuses Ref1
and Budget (2009) Ref1, Ref2, Ref3, Ref4, Ref5
cabinet reshuffles Ref1, Ref2, Ref3, Ref4, Ref5
calling for an early general election issue Ref1, Ref2, Ref3, Ref4
calling for tax on financial institutions Ref1
as Chancellor Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9, Ref10
and climate change Ref1
and Darling’s Guardian interview Ref1
discontent among Cabinet members and leadership challenges Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8
divisions over economy between Darling and Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9, Ref10, Ref11
election campaign and televised debates (2010) Ref1, Ref2, Ref3
establishment of national economic council Ref1
and fiscal rules Ref1
and G20 meeting (2008) Ref1, Ref2
and G20 summit (2009) Ref1, Ref2, Ref3
‘inner circle’ of Ref1, Ref2
and inheritance tax Ref1
and ‘investment versus cuts’ Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8
loss of election and wanting to talk to the Liberals Ref1, Ref2, Ref3
and McBride affair Ref1
and Mandelson Ref1
and Northern Rock crisis Ref1, Ref2, Ref3
and pre-Budget report (2009) Ref1
and recapitalization of banks Ref1
relationship with Blair Ref1, Ref2, Ref3
relationship with Bush Ref1
relationship with Darling Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9,
Ref10, Ref11, Ref12, Ref13, Ref14, Ref15, Ref16, Ref17, Ref18, Ref19, Ref20, Ref21, Ref22, Ref23, Ref24, Ref25, Ref26, Ref27, Ref28, Ref29
relationship with King Ref1
and rescue plan for the banks Ref1, Ref2, Ref3
resignation as leader Ref1
style of operating Ref1, Ref2, Ref3
and Treasury Ref1, Ref2, Ref3, Ref4, Ref5
and VAT issue Ref1, Ref2, Ref3, Ref4, Ref5
wanting to remove Darling from Chancellorship and decision to let him stay Ref1, Ref2, Ref3, Ref4, Ref5
Brown, Sarah Ref1
Budget Ref1, Ref2
(2008) Ref1, Ref2, Ref3, Ref4
(2009) Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7
(2010) Ref1
(2011) Ref1
Budget box Ref1, Ref2
Burke, Karl Ref1, Ref2
Burnham, Andy Ref1, Ref2
Burns, Andrew Ref1
Burt, Peter Ref1
Bush, President George W. Ref1, Ref2, Ref3, Ref4, Ref5, Ref6
Byers, Stephen Ref1
Byrne, Liam Ref1
Cabinet Ref1
Cabinet government Ref1
Cabinet Office Ref1
Cable, Vince Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9, Ref10, Ref11
Cameron, David Ref1, Ref2, Ref3, Ref4
Campbell, Alastair Ref1, Ref2, Ref3
Capalidi, Peter Ref1
Carter, Stephen Ref1
Channel Tunnel rail link Ref1
Child Benefit Ref1, Ref2
Child Benefit data: losing of Ref1, Ref2, Ref3
child poverty Ref1
Child Tax Credit Ref1
China Ref1, Ref2, Ref3, Ref4
and climate change Ref1, Ref2
Darling’s visit (2008) Ref1
trade talks between Britain and Ref1
China Development Bank Ref1
Churchill, Winston Ref1
Citigroup Ref1, Ref2, Ref3
City of London Ref1
Clegg, Nick Ref1, Ref2, Ref3, Ref4, Ref5, Ref6
climate change Ref1
Coffey, Ann Ref1, Ref2, Ref3, Ref4
Cohen, Leonard Ref1
Commerzbank Ref1
Committee on Climate Change Ref1
Connie Ref1, Ref2
Conservatives Ref1, Ref2
deal with Liberal Democrats after election Ref1, Ref2
and election campaign (2010) Ref1
and inheritance tax Ref1, Ref2, Ref3
Party Conference (2007) Ref1
and polls Ref1
and public spending Ref1, Ref2
representation in Scotland Ref1
response to nationalization of Northern Rock Ref1
Cook, Robin Ref1
Cooper, Yvette Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9, Ref10
Copenhagen meeting Ref1, Ref2, Ref3
corporation tax Ref1
Courtauld-Thomson, Lord Ref1
credit crunch Ref1, Ref2, Ref3, Ref4, Ref5
credit guarantee scheme Ref1, Ref2, Ref3
credit-rating agencies Ref1, Ref2, Ref3
Crewe by-election (2008) Ref1
crime levels Ref1
Crossman, Richard Ref1
Daily Mail Ref1
Daily Telegraph Ref1
and expenses scandal Ref1
interview with Darling Ref1
Daniels, Eric Ref1, Ref2, Ref3
Darling, Anna (daughter) Ref1, Ref2, Ref3
Darling, Anna (mother) Ref1
Darling, Calum (son) Ref1, Ref2, Ref3
Darling, Margaret (wife) Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8, Ref9
Darling, Sandy (father) Ref1
Darroch, Kim Ref1
Davos meeting (2010) Ref1
Department of Social Security Ref1
Dexia Ref1
Diamond, Bob Ref1
Dimon, Jamie Ref1
Docherty, Tommy Ref1
Dorneywood meeting (2008) Ref1, Ref2
Dorneywood Trust Ref1
Draghi, Mario Ref1
Duffy, Gillian Ref1
Dunfermline Building Society Ref1, Ref2, Ref3
Eagle, Angela Ref1
ECB (European Central Bank) Ref1, Ref2, Ref3, Ref4, Ref5, Ref6, Ref7, Ref8
Ecofin Ref1, Ref2, Ref3
economy Ref1, Ref2
(2007) Ref1, Ref2
(2008) Ref1, Ref2
(2009) Ref1
(2010) Ref1
Edge (internet bank) Ref1
Edinburgh Ref1, Ref2
Edinburgh Chamber of Commerce Ref1
education Ref1
efficiency savings Ref1
election campaign (2010) see general election (2010)
Elizabeth II, Queen Ref1
Ellam, Mike Ref1
euro Ref1, Ref2, Ref3
European Central Bank see ECB
European Commission Ref1, Ref2, Ref3
European elections (2009) Ref1, Ref2, Ref3
European stabilization fund Ref1, Ref2, Ref3
eurozone support fund Ref1
expenses scandal Ref1
Fannie Mae Ref1
nationalization of (2008) Ref1, Ref2
Field, Frank Ref1, Ref2
film industry Ref1
Finance Bill Ref1
financial regulation Ref1, Ref2, Ref3, Ref4, Ref5
Financial Services Authority see FSA
financial services industry Ref1, Ref2
Financial Stability Forum (now Financial Stability Board) Ref1
Fiscal Responsibility Act Ref1
fiscal rules Ref1, Ref2, Ref3, Ref4
Fitch Ref1
Flaherty, Jim Ref1, Ref2
Flint, Caroline Ref1
foot-and-mouth disease Ref1
Fortis Ref1
France Ref1
Freddie Mac Ref1
nationalization of (2008) Ref1, Ref2
Freedom of Information Act Ref1
FSA (Financial Services Authority) Ref1, Ref2, Ref3, Ref4, Ref5
concerns about Northern Rock Ref1, Ref2
and Icelandic banks Ref1
relationship with Bank of England Ref1
FTSE 100 Index: fall in Ref1, Ref2
fuel crisis (2000) Ref1
G7 finance ministers meetings: (2008) Ref1, Ref2, Ref3,Ref4
(2009) Ref1
(2010) Ref1, Ref2
G20 Ref1, Ref2
G20 finance ministers meetings: (2007) Ref1
(2008) Ref1
(2009) Ref1, Ref2, Ref3
G20 meeting (Pittsburgh) (2009) Ref1
G20 summit (2009) (London) Ref1, Ref2
Gaddafi, Colonel Ref1
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