HMG makes £10bn profit for taxpayers

26th Apr '10 by Isaac

3 comments 4989 reads

The taxpayer is sitting on a profit of close to £10bn on its stakes in Lloyds Banking Group after a surprise surge in their share prices.

The http://www.guardian.co.uk/politics/2010/apr/26/profit-taxpayers-bailed-out-bank-shares?CMP=AFCYAH

If I was HMG I would be tempted to hold onto the stakes and sell higher up. I still think both banks are very cheap.

I would then use the money to pay a chunk of the UK debt off.

The UK owes more then 900 Billion and that is the same as £42.9 billion a year in Interest.

It makes me very angry when I realise my tax payments are going down a rat hole....

http://www.debtbombshell.com/

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Isaac

26th Apr '10

The taxpayer is sitting on a profit of close to £10bn on its stakes in Royal Bank of Scotland and Lloyds Banking Group after a surprise surge in their share prices.

The shares in both banks have risen sharply in recent days and outperformed the wider market amid signs that the banking crisis is coming to an end and that their bad debts have peaked.

http://www.guardian.co.uk/politics/2010/apr/26/profit-taxpayers-bailed-out-bank-shares?CMP=AFCYAH

Fangorn

27th Apr '10

I think the people responsible for the debt should be put in Jail for these criminal activities. I find it outrageous the cuts the government will make to the NHS, Education, Police, Firefighters etc to save a few billion when they are totally throwing money away in Interest payments.It makes me very angry when I realise my tax payments are going down a rat hole....

I'd suggest you direct your anger at one Gordon Brown who was imprudently borrowing 30bn pounds a year when the economy was booming!!!! The inevitable spending cuts are the result of public sector lavishness under Labour - the hiring of 800,000 additional employees to fill what one could term as non jobs. The blowing of money on pet projects of little benefit to the country.the waste of benefits on those clearly undeserving in many instances.

Quite how a government could borrow 30bn in excess of revenues in an economic boom is mind boggling.

Presumably you think Gordon Brown should go to jail for his economic incompetence? Evidence of this is his,and Labour's laughable claim that the Tories, by reversing Labour's 1% NI hike will be taking 6bn out of the economy!!Anyone with economics 101 knows that Government Taxation is a WITHDRAWAL from the economy, government expenditure an injection.So raising NI 1% (effectively income tax by another name) is a withdrawal.So the Tories by reversing it are not, as Labour claim, withdrawing diddly.It is Labour withdrawing large sums at time of economy sluggishness.

Fangom,

I never even voted for Gordon Brown to be in power. I find it outrageous an individual who was unelected to be prime minister has taken the British economy into ruins. What a total shambles.....

And this same individual goes around the country with a big fat grin expecting people to vote for him?

Why does'nt common sense prevail that the British public does not want him to be prime minister? Labour would stand a much better chance if they had a different leader.

The problem with politicians is they all look short term to ultimately serve their own interests. As long as you can keep a credit party going people will love you for it.....because it means happy time until it lasts...

No one likes boring old saving and prudence....But it is what is needed for a sound economy.

What makes me seriously angry is HMG is wasting money paying interest on debts and are looking to cut jobs in the NHS and other public services.

I don't work in the public sector but it does make me angry that innocenct individuals will lose their jobs, they become victims of Gordons mess!

Gordon Brown became Prime Minister in June 2007...Ever since he has come into power ..

-Foot and Mouth outbreak
- National floods in 2007
- Child benefit data misplaced
-Northern Rock nationalised
-Financial crisis from 2007 to date
-2009 flu pandamic
-Expenses scanda
- National floods in 2009

Gordon your bad luck - please stand down.

HMG makes £10bn profit for taxpayers

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Isaac

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