Britain: Northern Rock Deal Could Cost £3,500 Per Person
February 20th, 2008Via: Telegraph:
The cost of the Northern Rock crisis has reached the equivalent of £3,500 for every taxpayer as experts warned that the nationalisation rescue of the bank was bound to fail.
Taxpayers’ exposure to the beleaguered bank has doubled since the beginning of the year and now stands at about £110 billion – more than the annual budget of the NHS and the equivalent of 27p on the basic rate of income tax.
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