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Lord Myner comes to the aid of taxpayers

City Minister Lord Myner would appear to be putting himself forward as the champion of UK taxpayers with this quest to ensure alternative arrangements are made in the event of future banking sector collapses. As we covered in one of our earlier articles, he is pressing ahead with plans for either an insurance-based safety net or a financial transaction levy fund to take the place of taxpayer funding which has been so evident over the last two years.

However, it seems rather bizarre that a government which has spent upwards of £1 trillion trying to bail out the UK economy, predominantly using taxpayer's money, has now decided to become the champion of the people. All political parties are now looking to curry as much favour with UK voters as possible and we will see many bizarre and potentially controversial statements and headlines in the weeks and months ahead.

Whether UK taxpayers will ultimately believe this apparent change of tack from the UK government remains to be seen but nobody will forget the recession which began back in 2007! Some analysts believe UK taxpayers could be feeling the pinch from the government's £1 trillion of debt for over a generation.

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