Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.
Sunday, February 15, 2009
Labour welfare adviser defects
The architect of Labour's controversial welfare reform programme is to join the Conservative party, it has been reported.
In a serious blow to the government's welfare credentials, David Freud has reportedly resigned in order to become a Tory frontbench spokesman.
He is expected to be given a peerage and named shadow welfare minister by David Cameron next week.
A source told the Guardian: "David and George [Osborne] have been talking to him a lot about the economy, but also obviously about welfare
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