The man who first proposed the break- up of the FSA and a return of powers to the Bank of England is set to become the coalition Government's key business spokesman in the House of Lords.
Sir James Sassoon, who has been chairman of the ifs School of Finance since September 2009, helped mould Tory policies in the run-up to the General Election, particularly with regards to a shake-up of City practices, the Telegraph reports. Formerly one of Labour's close economic advisers and an ex-UBS banker, he authored the Conservatives' 2008-09 White Paper on Financial Reform which first proposed breaking up the FSA and boosting the powers of the Bank of England. Plans are being finalised to appoint Sir James to the House of Lords as a minister with a high-profile role in the rad...
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