‘It is with humility, regret and deep sadness that I have to report to the House that my Government has been tarnished by this episode. The terrorists used a significant number of people to assist them. I am advised by the police and MI5 that the terrorists had in place a significant number of influential sleepers or moles, who in return for excessive remuneration became their eyes and ears. The identity of these sleepers has caused the intelligence services and me grave concern.’
Gasps echoed around the Chamber.
‘For example, MI5 identified two members of COBRA who were on the terrorists’ payroll, which is why an Operations Room was set up at the City of London police headquarters in Wood Street. The scale and magnitude of the recent attacks has made me realise how vulnerable we are to those with immense wealth, who take it upon themselves to either attack our society or use their money to influence those around them. Our freedoms, love of material things, and the chasm between the vastly wealthy and the rest of us have made too many people easy and obliging targets. It is with great sadness that I have to report that a large number of people in senior positions took huge sums of money for nominal amounts of work and did not seek to question what was going on – they were in reality working for the terrorists. They should have guessed it was too good to be true. Furthermore, in their greed, many were all too happy to receive this money in secret accounts offshore. Little did they appreciate that they were being groomed, and that they formed part of the terrorists’ information network.’
Rafi watched as the PM was forced to pause as the House reverberated with retorts of: ‘Shame, shame!’ The noise grew to a crescendo, as the displeasure was voiced in no uncertain terms.
‘Silence, silence!’ boomed the Speaker of the House.
The PM continued. ‘MI5, working with the City of London police force, have identified over 300 well-connected individuals who were on the terrorists’ payroll, directly or indirectly.’
More gasps were clearly audible.
The PM paused and looked around the House. ‘It is with sadness and displeasure that I have to report to the House that six members sitting in this Chamber succumbed to the terrorists’ financial advances and thus became part of their network.’
A shocked silence gave way to calls for justice to be done. It took the Speaker a full four minutes to suppress the noise before the Prime Minister was able to be heard again.
‘I should remind everyone that under British Law a person is innocent until proved guilty. Sergeant-at-Arms, are you and your colleagues ready?’ enquired the Prime Minister.
‘Yes, sir!’ came the clear reply.
‘Are you in possession of the list of the Members’ names, for whom arrest warrants have been issued by the City of London police in connection with aiding and abetting the terrorists’ attacks at Stratford and other locations around the UK last Friday?’
‘Yes, sir!’
‘With the Speaker’s permission, I would ask you, please, to proceed.’
The PM sat down while the sergeant-at-arms – the head of Parliament’s police force – walked over and passed the arrest warrants to the Speaker, who looked at the papers and then solemnly asked her to proceed.
The Members’ names were slowly read out one by one. They were not in alphabetical order, which only added to the dramatic tension. The six included a newly appointed junior minister and a backbench MP from the Government’s party, an MP from each of the two main opposition parties and two MPs from the smaller parties. Protests of innocence rang out around the Chamber. Shock and incredulity spread around the House, as Members who had hitherto been seen as whiter than white had their names called out. Only one MP put up a real struggle, whereas the others left with whatever dignity they could muster.
The Prime Minister watched as the door closed behind the last to be escorted out. The hubbub and mutterings gradually subsided. ‘If the Speaker will permit, it would be helpful if the Chancellor of the Exchequer could now complete his outline of the Government’s financial proposals, before he and I put ourselves before the House to answer questions.’
‘Agreed. Pray continue.’
Rafi was on tenterhooks. How much of their advice would the Chancellor take on board? He looked at the faces of the opposition MPs on the TV screen. There was a look of bewilderment.
‘Thank you, Prime Minister,’ said the Chancellor. ‘I have outlined a number of initiatives to enhance economic activity. I will now turn to our proposals of how the Government is to deal with the huge costs associated with the Stratford disaster.’ He paused and then went on, ‘As Members are no doubt aware, the credit crunch and the various state bail outs have necessitated significant Government guarantees and a substantial increase in borrowings. We shall not be undertaking any further borrowings. Indeed, as things stand it would not be possible to do so without, risking the UK’s credit rating, and triggering steep rises in interest rates and gilt yields. This would be very counterproductive.’
There was utter disbelief on the faces of those opposite him.
‘So how then can we meet these new and very large financial liabilities?’ The Chancellor paused whilst those in the Chamber were left to imagine the starkness of the position. ‘I am pleased to report that we have a plan. Under this plan the costs associated with the disaster will be met via the issue of shares in new Government Real Estate Investment Trusts – REITs. The value of the public sector’s property and tangible assets is around?900 billion, or thereabouts. A proportion of these assets will be transferred into these Government REIT vehicles, which will be listed on the London Stock Exchange. We will compensate each and every person who lost their health, their home, their possessions or their business as a result of the terrorist attacks by transferring to them shares in the Government REITs. A cash alternative will be provided by a consortium of banks who will offer a cost-effective trading facility.’
‘The sums involved will be large – in addition to the compensation costs there are a number of other significant costs, such as the decontamination and decommissioning costs of our nuclear power stations and the payment of guarantees… At present, the best estimate I have for Stratford and the associated costs is?195 billion. A full breakdown will be published by the Treasury in the next twenty-four hours.’
There were gasps around the Chamber – the figure was far larger than anyone had expected. The House fell silent once more and the Chancellor continued. ‘I also propose to use part of the proceeds of the REIT share sales to repurchase long dated gilts,’ continued the Chancellor.
Strike one for the terrorists, Rafi thought. This would underpin gilts prices and be the first nail in their financial coffin.
‘The Treasury’s best estimate is that the cost of the dividends on the Government REIT shares sold to third parties will be no more than ?1.5 billion for the next fiscal year, rising to?3 billion in the following year, and will therefore be well within its scope to manage, without recourse to rises in national taxation.’ He paused momentarily and looked at the shadow chancellor opposite him.
Strike two: the Government funding requirements would remain on track. The second nail in the terrorists’ financial coffin has been hammered home, thought Rafi.