Reports that as many as 2400 jobs in Northern Rock and its 'cultural foundation' will go should the United Kingdom's most successful tax avoider, Virgin, take it over from the taxpayer, give a measure of the real amount of work there is in running a regional building society. Benefits in the north east, it seems, are widely available accompanied by a cosmetic (and doubtless approved as therepeutic) pass time.
£100 billion to structure a political client base and maintain Labour authority; imagine if it had been used to develop modern manufacturing and heavy industry and encourage entrepreneurship. There might still be a ship building industry, after all, there is in Italy and Poland.
Still, five hours a week of cultural training should get all those school children up to speed for claiming their grants from the Northern Rock Foundation.
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