Gloomy lefties are continually moaning about the cost of the bank bailouts, only proving theyknow absolutely nothing about economics or high finance. The government has commissioned an independent survey by Rothschild and Channel 4FactCheck gives their view.This was the comment of the Treasury:
UPDATE: after this was published, a Treasury spokesman gave us the following statement:
“The methodology used by Rothschild is the same as that used by the independent Office of Budget Responsibility in their analysis of the government’s interventions in the banking sector, and by the US Treasury.
“The Rothschild report clearly sets out that taxpayers can expect to get back £14 billion more than they put into the banks, if you take into account the sales the government has authorised so far, the fees the government has received, the outstanding payments, and the value of the remaining shares.”