The Post Office and Localism

Just seen that ideas for a new banking system based on the Post Office network is being advocated by a group of MPs and others. Mainly Liberal and left-wing MPs like Jon Cruddas, but the idea is definitely worth pursuing. At a time when the global banks have so monumentally collapsed, taking both vast sums of taxes and general confidence with them, the idea of a parallel banking network would seem attractive. In fact, the Post Office as an engine of 'new localism' was being advocated only last month as a possible plank in a new "Red Toryism" by Philip Blond in Prospect magazine. Seemed pretty convincing as an idea to me, so I'll be interested to see what the Tory high command now make of today's proposals. The government, led by the high priest of globalism, Peter Mandelson, so far seems cool. Of course they would. They already own most of the country's banking system, so why set up another!