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Propping up banks costs £5bn a year

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posted on Apr, 20 2011 @ 04:25 AM

Taxpayers are paying £5 billion a year in interest on money the Government borrowed to support the banking sector, MPs have disclosed.

According the National Audit Office, “explicit” support provided to the banks fell from £955 billion in December 2009 to £512 billion by December 2010.

The MPs also said that it was “inappropriate” for banks dependent on taxpayer support to be paying their staff excessive incomes or unnecessary bonuses.

Unfortunately I don't think this will be the "straw that broke the camels back" as far as people and the banks are concerned, I'm really not sure what will motivate the masses to say enough is enough.

Footnote: £5bn divided amongst approx uk population of 60mil men, women, children equals £83.33 each
edit on 20-4-2011 by ukWolf because: Footnote

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