£40,000 a family: The taxpayers’ cash used to fund the £850billion bailout

James Chapman
UK Daily Mail
Friday, Dec 4th, 2009

The extent of taxpayer support for Britain’s banks is revealed today to be £40,000 for every family in the country.

An official report concludes that bailouts, guarantees, insurance and loans offered by the Government and the Bank of England reached £850billion.

Not all the cash has actually been spent, and ministers insist that taxpayers will see a return when the banks get back to profitability and the public stakes are sold off to the private sector.

But the total aid package works out at £ 13,800 per person in Britain, or about £40,000 per family.

Despite this, the bailed- out banks are still refusing to lend.

Full article here

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