Steve Baker has campaigned for banking reform, calling for banks to re-adopt Generally Accepted Accounting Practice to account for devalued loans, as well as failed ones.
In May 2011, he calculated that the use of IFRS instead of GAAP overstated the strength of Royal Bank of Scotland’s balance sheet by £25bn.
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He introduced a Ten Minute Rule bill to ‘bring casino banking into the light’, by changing the rules by which banks account for derivatives. Baker was elected to the executive of the 1922 Committee in May 2012, saying he was ‘fed up with factionalism’ and wanted ‘to stand as neither a modernising 301 candidate or a traditionalist’.
Baker was shortlisted for the Grassroot Diplomat Initiative Award in 2015 for the founding of the Cobden Centre and remains in the directory of the Grassroot Diplomat Who’s Who publication. In 2017, the Unite Union raised concerns that Baker had lobbied for the deregulation of white asbestos.
In 2010, Baker had asked the Work and Pensions Secretary a series of parliamentary questions, which included whether he would bring forward proposals to distinguish the white form of asbestos and the blue and brown forms of that substance. He also questioned whether he would commission an inquiry into the appropriateness of the health and safety precautions in force in respect of asbestos cement.
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Steve Baker Children
Details about his children are not known.
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