Dashwood: is George Osborne papering over financial cracks?



Fun and games in the latest updates of the Register of Members' Financial Interests, the public record of MPs (BSE: MPSLTD.BO - news) ' extra-curricular money-making interests.

Starting at the top of the heap, George Osborne has quietly "updated" his shareholding in upmarket wallpaper-maker Osborne & Little, the family-run business controlled by patriarch Sir Peter George Osborne.

Dashwood was intrigued to find out how many of the 6,027,427 shares with a total value of £301,371.35 now belong to the Chancellor but, curiously, Osborne's special advisers were reluctant to share that information.

Could the Right Honourable Member for Tatton have stepped in to boost the coffers of the loss-making firm, which last year failed to pay a dividend to its five directors it paid out £1.47m in 2010 as 2011 losses hit £736,000?

= Michael Fallon cuts ties with Tullett =

Meanwhile, business minister Michael Fallon has severed all ties with Tullett Prebon.

The inter-dealer broker has made its final instalment of £4,913.54 for Fallon's two-year stint as an independent non-executive director, after he resigned in September to free up his time for greater things.

Fallon will no doubt keep in touch with straight-talking Tullett Prebon (Berlin: N5C.BE - news) chief executive Terry Smith, however the firm is co-operating with the Financial Services Authority's ongoing investigation into the fixing of the Libor interest rate at a number of City banks.

= Davies' airports melodrama =

Don't shoot the messenger. Sir Howard Davies says he is only following orders "above my pay grade" by making no announcement on how to solve overcrowding in the airports of the South East until 2015.

The man leading the Government's review of airport capacity does have one ace up his sleeve, however after deep consideration, the one-time FSA chairman has decided that Heathwick, the mooted merger of Heathrow and Gatwick, "sounds like something out of Wuthering Heights". And we all know how that story ended.

= Grecian earn =

A cash injection for Greece, courtesy of the head of the Greek central bank, George Provopoulos, who has taken a 30pc salary cut to show his institution is "playing a leading role in the effort to make the Greek economy more productive".

The reduction means that he now earns less than his deputy Eleni Dendrinou-Louri: €7,616 to her monthly net wage of €8,148.

Time for Dendrinou-Louri to take a haircut of her own?