Sid Cordle MBE
As Christian Democrats, the Christian Peoples Alliance is campaigning for a return to the ideals of mutualism promoted in the past by Christian business figures and voluntary organizations. Building Societies that have remained mutual such as Nationwide, the largest, have gone from strength to strength. Those that have floated on the stock exchange have now all either failed or been taken over. Demutualisation is a failure and neither Labour nor the Conservatives will admit it because they promoted it.
Sid Cordle, MBE, has been a candidate for the Christian Peoples Alliance in Erith & Thamesmead constituency. Read more on Sid’s economic analysis here: http://www.scottbriscoe.co.uk/credit_crunch.html
He says that he would promote a new generation of Friendly Societies, Credit Unions, Building Societies, Mutual Insurance Companies, and trumpet companies with a strongly relational ethos, such as Rowntree, Cadbury, and Lever Brothers. As a former vice chairman of his trade union, when he worked for the Prudential, Sid believes in the importance of social solidarity and a new economic vision based on reforming the rules that govern free-market capitalism.
Now an independent financial adviser running his own business, Sid Cordle has spent over thirty years in financial services. He is a very astute adviser, having foreseen in advance past collapses such as the collapse in technology stocks in 2000, and the collapse in commercial property values which started in late 2007. Labour’s idea that it has abolished boom and bust, often repeated by Mr Brown as Chancellor, has not only been proved false, it is also the reason why no preparation was made for the recent down turn.
Sid now says we need first to restore stability to our financial system by cutting debt and examining the role the Bank of England has played in the credit crunch. The Bank of England alone in the country, like the Federal Reserve in New York, has the power to create money and thereby stop capital flows. This gives them incredible power which is not always used to the best interest of this country or the international community. Action must be taken. There is a strong move in America to have their Federal Reserve made more accountable, and we must do the same to the Bank of England. The Conservative idea to give them more power with no accountability, is perverse.
Both Government and individuals must be encouraged to live within their means. Wasteful Government schemes we don’t need, such as the introduction of ID cards and replacing Trident, must be scrapped. Bonuses must be related to profitability, and all employees share in them. Executives should not be allowed to pay themselves bonuses unless all the Company employees have a fair share.
Sid Cordle is an experienced political campaigner, having stood 3 times for Parliament, twice for the Conservative Party, in 1983 and 1992, and once for the CPA in 2005. Every time he has done better than the average result for the party. He also served 6 years as a city councillor and on the Executive and Council of the Christian Peoples Alliance, where he was Federal Treasurer.
He is strongly linked with churches in east London through links with House of Ishmael Ministries, based in Newham, which he is the chairman of, and the Global Day of Prayer for London, which he is connected to.