£50M is high price to pay for change without progress

The government estimates that the cost of closing the FSA and remoulding financial services regulation will be about £50m, so what will we get for that?

The first question before any reform goes ahead has to be – will the government be using existing FSA staff and if so how many?

In other words, will it add up to much more than a name change? I have to say, £50m sounds like a hell of a lot of money to put some new stickers on windows and rebrand some stationery.

I appreciate there may be more to it than this but how can we be sure that it won’t just be a case of same organisation, different name?

Alan J Nadin