Her Majesty's Treasury has just announced that the government's investments in banks are to be consolidated into a holding company called UK Financial Investments Limited.

So off we toddled to Companies House to have a look at the documents. And lo, you'll not be surprised to read that the objects clause in the mem & arts includes.....

• To carry on business as a general commercial company and to carry on any trade or business whatsoever.
• To act as a holding company.
• To provide services of all descriptions.
• To lend money, and grant or provide credit and financial accommodation to any person and to deposit money with any person.
• To invest money of the company in any investments and to hold, sell or otherwise deal with investments or currencies or other financial assets.
• To borrow and raise money...
• To enter into any guarantee, contract of indemnity or suretyship...

Okay, it's only an objects clause and Lord knows they don't really mean anything much these days. Still sends a shiver down the spine, though, doesn't it? I mean, here we go again.....