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Search resuls for: "Alistair Darling"


4 mentions found


☆ Former UK Treasury Chief Alistair Darling, Who Steered Nation Through a Credit Crunch, Has Died
  + stars: | 2023-11-30 | by ( Associated Press | Nov. | At A.M. | ) www.usnews.com   time to read: +1 min
LONDON (AP) — Alistair Darling, a central figure in the U.K.’s response to the 2008 financial crisis who later helped organize the campaign against Scottish independence, has died. Darling had been treated for cancer, his family said in statement on Thursday. He served as Britain’s treasury chief under then Prime Minister Gordon Brown, who praised him as a “popular and effective’’ government minister. Though Darling held a variety of posts during his 28 years in the House of Commons, he is likely to be remembered most for his work in steering the nation’s finances during the global credit crunch. The package of measures he implemented were credited with preventing an even more dramatic slide after the crisis threatened the nation’s banking system.
Persons: — Alistair Darling, Darling, Gordon Brown, “ Alistair, ” Brown Organizations: Scottish, Commons, Associated Press
☆ Alistair Darling, Guiding Hand in Britain’s Financial Crisis, Dies at 70
  + stars: | 2023-11-30 | by ( Alan Cowell | More About Alan Cowell | ) www.nytimes.com   time to read: +1 min
Alistair Darling, a British lawmaker and cabinet minister who played a leading role in his country’s response to the 2008 global financial crisis, rescuing troubled banks with huge injections of public money that staved off a broader economic collapse, died on Thursday at a hospital in Edinburgh. Darling became “best known as the steady pair of hands who shepherded the U.K. economy as half its banking system collapsed,” noting his moves to rescue British banking giants, especially the Royal Bank of Scotland. Just before the crisis, in 2007, Gordon Brown, Britain’s Labour prime minister at the time, elevated Mr. Darling to chancellor of the Exchequer, the government’s most senior official in charge of the nation’s finances. Darling had held a series of government offices at the Treasury and at ministries dealing with welfare, pensions, trade and transport.
Persons: Alistair Darling, Darling, Gordon Brown Organizations: Lehman Bros, BBC, Royal Bank of Scotland, Labour, Treasury Locations: British, Edinburgh, United States
☆ Ex-UK finance minister Darling, who fought financial crisis, dies
  + stars: | 2023-11-30 | by ( William Schomberg Andrew Macaskill | William Schomberg | Andrew Macaskill | ) www.reuters.com   time to read: +4 min
[1/2] Former UK finance minister (Chancellor of the Exchequer), Alistair Darling, poses for a photograph in Edinburgh, Scotland, Britain, Aug 31, 2018. REUTERS/Russell Cheyne/File Photo Acquire Licensing RightsLONDON, Nov 30 (Reuters) - Former British finance minister Alistair Darling, who steered the country's economy and banking system through the shock of the global financial crisis in 2007-08, has died aged 70 after undergoing treatment for cancer, his family said on Thursday. Darling was named chancellor of the exchequer by former prime minister Gordon Brown in June 2007, just as the crisis was brewing at leading financial institutions. "I never met anyone who didn't like him," Brown's predecessor as prime minister, Tony Blair, said. "Darling's passing is a huge loss to us all," said Britain's present prime minister Rishi Sunak, from the centre-right Conservative party.
Persons: Alistair Darling, Russell Cheyne, Darling, Gordon Brown, Brown, Margaret, Calum, Anna, Tony Blair, Lehman, Rishi Sunak, Muvija, Kate Holton, Andrew Heavens Organizations: REUTERS, Royal Bank of Scotland, Lloyds TSB, Labour Party, Treasury, Western General Hospital, Loretto School, Aberdeen University, The Guardian, Lehman Brothers, Conservative, Thomson Locations: Edinburgh, Scotland, Britain, British, United Kingdom
☆ UK names new finance ministry head after ousting predecessor
  + stars: | 2022-10-10 | by ( William Schomberg Sachin Ravikumar | William Schomberg | Sachin Ravikumar | ) www.reuters.com   time to read: +3 min
LONDON, Oct 10 (Reuters) - Britain's government on Monday named an experienced Treasury official as the finance ministry's new top civil servant, after unsettling investors last month by abruptly ousting his predecessor. He replaces Tom Scholar whose departure shortly after Kwasi Kwarteng became finance minister contributed to a drop in confidence among investors since Liz Truss took over as prime minister. The removal of Scholar broke the British convention that non-partisan officials remain in post after a change of political leadership. It came shortly before Kwarteng announced a string of unfunded tax cuts that caused turmoil in financial markets. Bowler's appointment came as a surprise after newspapers last week reported that Truss wanted someone new to the Treasury to take the department's top job.
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