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What it means for the taxpayer
The £500 billion rescue package announced last week meant that every UK taxpayer was already liable for almost £20,000 each in terms of loans and Government guarantees, though in reality we were never likely to be called upon to hand over any of that money, provided the banking system did not completely collapse.
The dramatic escalation in the amount of money the Government is now prepared to invest in banks, however, means that tax rises have become a realistic possibility.
Why are we bailing out the banks
I still cannot see why the government have bailed out the banks with our money. They actually employ a very small proportion of the population compared to the likes of Woolworths and other companies. They were and still are failing the needs of their members, letting companies go into administration by not leanding and awarding themselves massive bonuses. I would have prefered the bail out of manufacturers and shops, keeping 10,000s of people off of social benefits and saving livelyhoods. The whole thing stinks of the old boys network, ex bank chiefs getting jobs watching over the dealings of the banks? Is it a case of you scratch my back and I will give you a bonus? The whole thing needs a radical shake up and a re-think on what is right for everybody in society, not just those at the top.
GET A GRIP GORDON BROWN. You are failing us all and we will turn and fight back.
The £500 billion rescue package announced last week meant that every UK taxpayer was already liable for almost £20,000 each in terms of loans and Government guarantees, though in reality we were never likely to be called upon to hand over any of that money, provided the banking system did not completely collapse.
The dramatic escalation in the amount of money the Government is now prepared to invest in banks, however, means that tax rises have become a realistic possibility.
Why are we bailing out the banks
I still cannot see why the government have bailed out the banks with our money. They actually employ a very small proportion of the population compared to the likes of Woolworths and other companies. They were and still are failing the needs of their members, letting companies go into administration by not leanding and awarding themselves massive bonuses. I would have prefered the bail out of manufacturers and shops, keeping 10,000s of people off of social benefits and saving livelyhoods. The whole thing stinks of the old boys network, ex bank chiefs getting jobs watching over the dealings of the banks? Is it a case of you scratch my back and I will give you a bonus? The whole thing needs a radical shake up and a re-think on what is right for everybody in society, not just those at the top.
GET A GRIP GORDON BROWN. You are failing us all and we will turn and fight back.
