Banking groups demand fresh aid from the government
In a move which will again see the government and the UK financial sector at serious loggerheads, it has been revealed that a number of UK banks have demanded further state aid in order to deliver more liquidity to the financial markets. At this moment in time taxpayers are already disappointed to see no visible benefits for the hundreds of billions of pounds already invested in the money markets and further state aid would appear to be out of the question.
There is an argument as to how the banking sector will be to fund the government wishes which include a six-month delay in repossessing homes where mortgages have not been covered, as well as a reduction in lending rates across the board. The argument for retaining and increasing profit margins on lending is fairly weak, but the banks have a point with regards to home repossessions which will effectively see millions of pounds of funding carried forward with no ongoing return.
At this moment in time it seems that the more the government pushes the banks to increase liquidity and more they refuse and the more state aid they seem to be demanding. Quite how the situation will pan out remains to be seen.
Share this..
Related stories
Government launches new financial guidance service
The government has announced the launch of a new financial advice service, which will be trialled in the north-west from today. Residents in the north-west will have access to impartial financial information and guidance, by phone, face-to-face or on the web, as part of a three-month government-funded trial of the new Consumer Direct service.The service is intended to help people to fully understa...
Read MoreTesco to offer Sainsbury’s Brand Match to customers
11/04/2016 Tesco has announced that it will offer customers who have valid Sainsbury’s Brand Match money-off vouchers a two month extension to the scheme which is due to end on 26th April. This will mean that any customers who still have the vouchers after they have expired in Sainsbury’s will be able to use them until 30th June in Tesco. Last week Sainsbury’s announced that it woul...
Read MoreEDF set to leave gas prices on hold
The last few days have seen a number of headlines in the financial press in relation to energy companies and the unexpected reduction in both gas and electricity prices. However, EDF, the French owned energy provider, has today scuppered those hopes with the announcement that electricity prices will fall from 31 March (by an average of 8.8%) but gas prices will remain on hold for the time being.
Bill Gates, The End Of An Era
After 33 years at the helm of Microsoft, Bill Gates will finally hand over day to day control on the 27th June this year. While he will still continue to work one day a week for the company and retain his position as board chairman, the day to day running of Microsoft will be firmly in the hands of Steve Ballmer the group’s Chief Executive.
Ballmer has been at Microsoft for s...
UK students targeted by Internet scammers
The authorities have today issued a warning to UK students amid news that 50 phishing websites have been closed down in the last 12 months which were specifically targeting students and attempting to harvest confidential information from them. It is known that a number of these websites were sending out e-mails purporting to be from the Student Loans Company asking for repayments and confidential...
Read More