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PBR: Losses from bank bailouts reduced from £50bn to £10bn

Chancellor Alistair Darling has revised his forecast of the losses from bailing out HBOS, RBS and Northern Rock from £50bn to £10bn.

Darling said today that he thinks all taxpayers money including fees will eventually be paid back by the state-owned banks in the long-term.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Eventually? In the long term? Why isn’t the government insisting that every penny of profits be applied to clear these debts the the national exchequer? And how come these banks are being allowed to pay a penny in bonuses to anyone? Shouldn’t everyone who works for these banks be subject to a pay freeze until all debts are cleared?

  2. I just dont understand all the fuss over bank bonus payments. It would seem to me that the government through the exchequer receive some 60%(inc NIC) of these payouts and are still owed the original debt. win win??
    The bank then keep their sharpest people, whom would all debunk to other tax regimes to earn their millions, thus keeping the bank well on line to earn profits to pay the loans and pay the exchequer again every year??

  3. Dear Financial Ombudsman Service

    Some idiot called Darling from an outfit called The Government took a load of my money and invested it in shares in some dodgy banks.

    He did not ascertain my attitude to risk and, worse still, he decided I should borrow in order to invest.

    Where’s my compensation?

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