Corporate welfare for the banks

Support to the banks ran at well over one trillion pounds at its peak…

This is a link to the National Audit Office’s estimates of the costs of support to the banks. It makes for interesting reading! Look in particular at how much the bailouts cost at their peak. And how much the ‘hidden’ support costs – including the cost of borrowing to support the banks – which the government often ignores, especially in its estimate of gains and losses incurred in nationalising and subsequently privatising the banks….

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