Since being ousted by Theresa May when she took office, the Cameron-era politician has taken up a six-figure, part-time advisory role with BlackRock \u2013 the world\u2019s biggest asset management firm which is said to be worth \u00a35 trillion.<\/p>\n
Thursday night saw Whitehall\u2019s appointment committee facing questions over why his links and many meetings had not been flagged up.<\/p>\n
The committee had previously said there were no issues regarding the relationship because Osborne had not taken any decisions for the firm while still a serving politician.<\/p>\n
It has now been reported by the Daily Mail that the committee has been forced to change its position to reflect the fact Osborne actually had taken decisions for the firm while still in office.<\/p>\n
Read more<\/p>\n
BlackRock was reported to have been extremely happy with Osborne\u2019s pension reform legislation, which began in 2014, claiming it was uniquely well placed to profit.<\/p>\n Despite this a senior civil service official wrote to Osborne telling him that \u201cthe Committee \u2026 was reassured by confirmation from your former department, Her Majesty\u2019s Treasury that there were no specific policy decisions from your time in office that would have specifically affected BlackRock.<\/em>\u201d<\/p>\n On Monday the committee reportedly changed its view to state: \u201cThe Committee \u2026 was reassured by confirmation from your former department, Her Majesty\u2019s Treasury that whilst you were responsible for general policy decisions that would have affected the asset management industry, none of the decisions from your time in office were specific to BlackRock.<\/em>\u201d<\/p>\n On Wednesday UKIP MP Douglas Carswell branded the issue an \u201cembarrassing bungle<\/em>\u201d and the committee a group of \u201cgrandees who rubber stamp rather than scrutinize. Parliament should make this its business.<\/em>\u201d<\/p>\n John Mann MP, who sits on the Treasury select committee, said: \u201cThis looks very bad. It is outrageous if he makes any contact at all with the Bank of England, the regulator or the Treasury. George Osborne is trading on his ministerial contacts book.<\/em>\u201d<\/p>\n A spokesperson for Osborne told the Mail: \u201cBlackRock is a highly respected financial institution that employs many people here in the UK and helps British pensioners and savers get a better deal.<\/em>\u201d<\/p>\n \u201cChancellors and other ministers have always met with them, and continue to do so, as they meet regularly with other major British employers \u2013 and the fact of those meetings is, rightly, made publicly available at the time.<\/em>\u201d<\/p>\n<\/div>\n Via RT<\/a>. This piece was reprinted by RINF Alternative News<\/a> with permission or license.<\/p>\n","protected":false},"excerpt":{"rendered":" Former Tory Chancellor George Osborne had five meetings with US financial giant BlackRock, for whom he now works, while he was still in charge of the British Treasury, it has emerged. Since being ousted by Theresa May when she took office, the Cameron-era politician has taken up a six-figure, part-time advisory role with BlackRock \u2013 […]<\/p>\n","protected":false},"author":1,"featured_media":291870,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-291869","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/291869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=291869"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/291869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media\/291870"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=291869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=291869"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=291869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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