Qualified advisers answering your
Financial Questions
call 0800 092 1245

Alistair Darling copies US policy on bank nationalisation

Alistair Darling has this evening come out and suggested that the vast majority of UK banks should retain a percentage of private investors so that a return to the private sector can be completed as and when the time is right. The UK government currently has significant holdings in a number of leading UK banks and there has been a suggestion that the likes of Lloyds TSB and possibly Royal Bank of Scotland could be nationalised in the short term. However, tonight's announcement appears to allay any fears in this direction.

This is a direct duplication of the ongoing US policy which was confirmed by the Federal Reserve earlier today. There are hopes that the 3% rise in the US stock market will be replicated in the UK when trading resumes tomorrow although nothing is ever certain in the current economic environment.

While some weeks ago Gordon Brown was said to be leading as others followed, there appears to have been a substantial turnaround in this policy and the UK government looks as though it is duplicating the policies of the new Barack Obama government. It has to be said that so far so good for the new president of America but there is still a long way to go until we see any sign of recovery in either the US or the UK economies.

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