UK Financial Investments, which oversees the British government’s stake in RBS, Lloyds and Northern Rock, said it might be 2015 before taxpayers got back the £40 billion used to prop up failing banks.
UK Financial Investments, which oversees the British government’s stake in RBS, Lloyds and Northern Rock, said it might be 2015 before taxpayers got back the £40 billion used to prop up failing banks. Barclays’ profits increased to £11.6 billion in 2009, a rise of 92 per cent over the year before. Mr Gordon Brown, the Prime Minister, said that the world’s leading economies were close to agreeing an international levy on banks. Twenty economists, including four former members of the Bank of England’s monetary policy committee, said in a letter to the Sunday Times that there should be action to reduce ‘the structural budget deficit more quickly than set out in the 2009 Pre-Budget Report’.
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