Tony Greenham
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Osborne Should Drive a Hard Bargain for British Banks' £46bn Subsidy

Posted 8 September 2011 | 10:39:25 (EST)

Britain is getting a bad deal from its banks. Our research has found that the five biggest UK banks enjoyed an indirect subsidy of £46bn in 2010 courtesy of the taxpayer. This was the reduction in borrowing costs that results from the implicit guarantee of their solvency by the government.

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