Mortgage Announcement Was an Exercise in Spin
Iain Dale 9:50 AM
Of course, now it's out there, the whole thing is beginning to unravel. Margaret Beckett is flailing around, clearly unready to answer the questions which are fairly predictable. The banks are making clear they are pretty hacked off at being bounced by Gordon Brown - again.
None of this is to say that in principle, such a scheme might not be a good idea. But the worst thing you can do is announce something which hasn't been thought through properly, is relatively uncosted, does not have the full backing of the banks and looks like a dog's breakfast.
Dizzy is rather more scathing.