Sir Tom Farmer questions HBOS takeover
As if Lloyds Bank was not already looking for a way out of the HBOS takeover we have again seen a number of so called investment experts step into the breach and question the sense and the price of the proposed Lloyds Bank / HBOS takeover. This at a time when Lloyds Bank is rumoured to be thinking of walking away from the deal and the bank is struggling to survive.
Sir Tom Farmer is one of the more prominent business people from Scotland who has questioned the deal and the overall impact it could have on the Scottish economy. The group have written open letters to all of the UK political parties, something which will infuriate Lloyds Bank which actually stepped in at the last minute to save the bank.
There is a feeling that the move is fuelled by the proposed independence vote which is due to take place in Scotland over the next few years. However, if this is the case and Scotland ask the UK Treasury to bailout the group if the Lloyds Bank deal collapses this will leave a bitter taste for English tax payers. Some are even calling for HBOS to be set a drift and let the Scottish government sort out the mess, but that will just not happen as the Scottish economy could not support a bailout by itself.
Share this..
Related stories
Students stay at home to stay out of debt
Increasing numbers of young people are electing to stay at home whilst they study to save money and keep out of debt, according to a recent study.Almost a third (31 per cent) of those questioned in the Lloyds TSB survey said they would be living with their parents, because otherwise they could not afford the expense of going to university. The spiraling costs of a university education mean that ov...
Read MoreHBOS management threaten nationalisation if Lloyds TSB offer lapses
In a fairly blunt rebuke of the supposed alternative offers emerging from Scotland, the management of HBOS has suggested that if the Lloyds TSB deal does not go ahead then the group may have to be fully nationalised. This was always the threat from day one as the group was running dangerously low on finance hence the reason why Lloyds TSB stepped in with the announcement of a merger.
...
The £45 billion hole in the UK budget
While the headlines after Wednesday's budget were fairly encouraging for the Labour Party the last 24 hours has seen a significant U-turn in the world of economics. A prominent think tank has been reviewing the announcements from Alistair Darling and the impact upon government finances. It would appear that using government spending and taxation figures there is a £45 billion a year black hole in...
Read MoreIncome tax and national insurance could be merged
22/07/2015 Income Tax and National Insurance could be merged into a single “earnings tax”, as chancellor George Osborne has commissioned a review into the simplification of the tax system. David Gauge, the Financial Secretary to the Treasury initiated the new review into the issue by writing to the Office for Tax Simplification (OTS). In the letter he referred to the parallel tax system...
Read MoreCar-crazy Brits face big bills
Ninety-one per cent of British drivers say that running costs for their cars have increased over the last five years, after road tax has risen and the cost of parking, petrol and repairs have also soared.The industry is now worth £51 billion a year in the UK, with drivers spending an average of £1,776 every year on keeping their car on the road, according to Zurich Insurance. Seven in ten car ow...
Read More