Tuesday, 3 November 2009

RBS & Lloyds: the cost to you

"According to experts at Fitch, this move will cut the total potential losses to the taxpayer by a half from £485bn or 30pc of GDP to£208bn or 14.4pc of GDP – though this assumes that everything in the APS is worthless. In July it said it expected the eventual net cost to be £41bn, but whether or not that should now be halved they are yet to calculate."

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