What is in Kelvin's Head?

  • Brexit – Five First Quick Thoughts

    • My first thoughts on waking to the news of the result of the referendum on membership of the EU are not with the markets nor about sovereignty but with individuals. In particular, my thoughts are with the considerable numbers of members of my own congregation who have come from the rest of the EU to make a home here and indeed those who have moved the other way and who are living in other European countries. There will be considerable numbers of people feeling very uncertain about their own place in the world.
    • My second concern lies with those who will be the poorer for this decision. Financial volatility seems destined to affect the poor disproportionately. So far I hear no discourse in the media about the least financially secure. One of the reasons that this has happened is that there has been a collapse in trust in the ability politicians in much of the UK to speak for policies that would benefit most of the people.
    • I don’t think that the economic questions facing Scotland got any easier overnight. The calls for a second independence referendum are surely coming our way but on what terms? A Scotland in Europe hitched to a pound out of Europe? An independent Scotland committed to a Europe that fractures even more? Neither position is terribly attractive. It seems to me that there will be further attempts across Europe to persuade countries to leave the EU. That becomes much more likely after this vote.
    • I fear that there are more referendums heading our way whilst hating that way of making political decisions. We have representative democracy so that our representatives get to slug things out primarily so we don’t have to do so ourselves. Sadly I suspect there may be quite a lot of anger coming the way of our politicians. To some extent this result reflects the existence of quite a lot of anger already. However, politicians stand between the tyrant and the mob keeping both at bay.
    • The most frightening thing I saw over the last few days was the relatively powerful in the country having no contact at all with the disaffected majority. Again and again I heard people of the intelligentsia (a group I’d have to acknowledge I belong to as a card carrying member) saying that they simply knew no-one at all who wanted to leave and didn’t believe that it could possibly happen. We are divided and in ways I fear.

    There will be more to say later.

    Very much more.

    ,

5 responses to “On being bought and sold”

  1. Tim Avatar
    Tim

    I’m contemplating it – too much instability coming up in the next couple of months though.

    You might find http://www.ethicalconsumer.org/buyersguides/money/bankingcurrentaccounts.aspx interesting – the CoOp don’t seem to score all that highly, although obviously better than established big names.

    Reply
  2. Pam S Avatar
    Pam S

    I did move my account and our joint account about 18 months ago – from Lloyds to the Co-op!

    My reason was what appeared to be a policy to get as much money out of me as possible, culminating in imposing an accumulating daily penalty for a going a very small amount overdrawn on one account by accident when I was ill. The charge amounted to much more than the original overdraft. They didn’t inform me of this for several days and the basic attitude was ‘well that’s your lookout’. They knew that there was enough money in other accounts to cover it.

    I knew about ethical banking before that – our son is a great advocate of ethical banking and had suggested we moved to the Co-op several times – but it was only a personal experience of what I considered unethical behaviour which damaged me personally that gave me the impetus to do it.

    Many years ago when my father was struggling financially, his branch of Barclays called him in to tell him off about his overdraft. He went straight across the road to another small local bank called Martin’s, asked if he could transfer his overdraft there and they lent him the money to close down the account at Barclays. He always said that Barclays had to eventually take over Martin’s to get his custom back!

    One thing I did find with moving banks though – it was actually not quite as straightforward as I was told it would be – there were several standing orders and direct debits that didn’t get automatically transferred so there were a couple of months of companies contacting us to tell us we owed them money! However it was all fairly easy to sort out on the phone. Also we were on a lower overdraft limit for the first six months so if you need to use the whole of your current overdraft limit every month it’s best to be clear about what you’re being allowed.

    Reply
  3. Tracey Avatar
    Tracey

    I bank with the Clydesdale because I work for them, and they require you to have your salary paid into a Clydesdale account.

    I wonder if Howard’s branch of Lloyds is being sold to the Co… I really hope so, for hunners of different reasons.

    Reply
  4. Helen Avatar
    Helen

    I wonder how ethical the co-op bank actually is. I have had a preference for shopping at co-op supermarkets because of their ethical stance,until the recent revelations that they are among the worst offenders for driving down the price of milk below the cost of production. Fair trade and ethical have to apply to the uk too.

    Reply
    1. Jo Avatar
      Jo

      The Cooperative have just increased the price they pay to milk producers, in response to concerns raised. As to the bank, “more ethical than any of the other high street banks” is about as good as it gets right now.

      Reply

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