Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK taxpayers take another hit

With news that Lloyds bank has bad debts of more than £13 billion and reported a £4 billion loss for the half-year, UK taxpayers have taken another beating with regards to the value of share stakes held on their behalf. Despite assurances from the UK government from day one, the situation is going from bad to worse with Northern Rock actually lending more money each month from taxpayers rather than paying back the billions of pounds borrowed from taxpayers. So what next?

The UK government is in a very difficult situation because it cannot afford to take away support for Northern Rock, Royal Bank of Scotland or Lloyds bank. Any inclination that the UK government was looking to bailout at these lower levels would put the UK banking system at risk and prompt a possible return to a situation which could put the UK economy as a whole in the firing line. The government has invested billions upon billions of pounds of taxpayer's money and literally the point of no return was passed some time ago - there is now no option but to go on.

The UK government has so far been fairly quiet on the subject of Lloyds bank and Northern Rock results as we await figures from the Royal Bank of Scotland over the next few days.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details