Chancellor of the Exchequer

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UK Expenses Scandal Hits Alistair Darling

Govt's No. 2 claimed 2 houses at same time, may be demoted

(Newser) - Britain's ongoing political expenses scandal reached all the way to the second-highest post in government today, after the Telegraph broke news that Chancellor Alistair Darling reportedly expensed the service charge on a South London apartment he was renting out while also claiming allowances on his Downing Street house. Though he... More »

Bad News for Banks Is Great News for Brown

British PM gets poll boost in crisis, silencing critics

(Newser) - In America the financial crisis has dealt yet another blow to an already unpopular President Bush. But in Britain, collapsing banks and volatile markets are the best thing to happen to Gordon Brown in recent months. In reasserting his global economic know-how, the prime minister, who is reportedly preparing an... More »

Move to Nationalize UK Bank Sparks Fury

Shareholders expected to battle public ownership

(Newser) - Furious shareholders concerned about the risk to their investments are blasting the British government's decision to nationalize ailing Northern Rock bank. The British Treasury is expected to face lengthy legal action from investors once the government formally announces details of the takeover today. Trading in bank shares is being suspended,... More »

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