£1000 prize offered by Cobden Centre

Toby Baxendale of The Cobden Centre has offered a £1000 prize to anyone who can prove that his proposal for banking reform is logically unworkable (rather than simply politically difficult).

It will be interesting to see what comes in. Personally, I hope the prize goes unclaimed, as if Toby is right, there is a much bigger prize available for all of us: freedom from the national debt, and a tax cut to boot.

It still seems a little too good to be true. If you can prove why, go and claim your prize.