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Treasury sources suggest a further bailout of the UK banking sector

It has been revealed this evening, by sources close the Treasury, that the UK government is working on a new bailout plan for the UK banking sector. While the new strategy may be dressed a little different to the former bailout in effect it is the bailout part two. This is set to put the government at loggerheads with UK taxpayers who have long been complaining that the recent £37 billion bailout has had no impact on everyday life and bank finance is still as scarce as ever.

However, the government is being forced into even considering this new bailout with news that substantial losses are expected in the commercial property sector (indeed a Close Brothers report recently suggested losses of £70 billion across the UK banking sector). Many believe the authorities have reached a point of no return and despite the vast sums of money required and increase in the national debt there is very little option but to follow through with a new plan of attack.

If the government to decide to inject more money into the banking sector we can take it as read that there will be tight regulations and conditions attached to any additional funding.

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