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Government confirms bailout part two being considered

The government has this evening broken its silence on rumours that the UK banking sector is set to receive billions of pounds in additional taxpayers funding. Despite suggestions that this was not the "first port of call" from Alistair Darling there was a feeling that the government is paving the way for an additional funding programme in the UK banking sector.

As we have covered over the last few days, any move to pump more taxpayer's money into the banking system will put the government on a crash course with taxpayers who have had enough of funding the UK banks without any return for consumers and businesses alike. Even though the government has not specifically said that a bailout is on the cards, yet again we have seen a number of leaks into the public arena which would suggest this is a train of thought within the government.

There are suspicions that the government will use today's announcement of an additional 100,000 jobs in the public sector as cover for extra funding for the economy (i.e. the banking sector) as a way to avoid any potential backlash from the UK population. This is a high-risk strategy which the government needs to get right otherwise the Labour Party's odds of winning the next election could be seriously affected.

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