David Miliband is talking of the need for "radical change"to James Naughtie and appears to suggest that the nationalisatioN of the banks was part of this radical plan
DM: Last year I wrote an article saying that ‘we needed a radical new phase in Labour policy’.
JN: But we haven’t had that. That’s the point.
DM: If I had come on this programme last August and said ‘The best example of a radical new phase is the Labour Government to own two thirds of Lloyds Bank, that’s real radicalism’ you’d have said ‘you must be absolutely barking;
JN: But you were forced into that. The idea that this was a choice on the part of the government is absurd, Mr Miliband.
DM: No no no. I’m sorry. It is absurd to say that the government did not choose to own two-thirds of Lloyds Bank
JN: (laughing) It ‘chose’ to own it in the context of the biggest financial crash for 80 years.
DM: And we did the right thing.
JN: (scoffing) really.
DM: Hang on. And on the economy, we have shown what a radical new phase means. We’ve proved that it was the right thing to do. Yesterday Lloyds Bank paid back £2.6bn. Now we’ve had the coldest electoral shower imaginable. We have to ask ourselves in other areas – on political reform, on public services and on international policy – what’s the equivalent of unconventional thinking? What’s the equivalent of owning two-thirds of Lloyds Bank?
Your can listen to the whole interview HERE
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