It calculates that the bailout represents a contribution of £1,200 from each UK taxpayer and is calling on the Government to take radical steps to rebuild the banking system so that it is more consumer-focussed.
Research from Which? shows that 51 per cent of people think that failings by either the Government or by regulators are at least partly to blame for the financial crisis.
Which? chief executive, Peter Vicary-Smith, says: “We need radical reforms to deliver a strong, stable banking system that protects the long-term interests of consumers, rather than the short-term interests of the banks.
“We must identify what went wrong in the past to ensure that we don’t repeat those mistakes in the future. The best way to achieve this is through an independent review.”