PPI Claim News - 9/3/2010

Bank Charges: UK government 'cannot afford' more bank bailouts

The UK government "cannot afford" further bank bailouts and therefore must execute its withdrawal of banking support cautiously.

That is the view of Moody's Investors Service which claimed that further bailouts would not only pose as a burden to the taxpayer but may also have detrimental affect on financial confidence, according to Reuters news.

In a report Moody's said: "The growth in the UK's public debt burden means the government cannot afford further substantial bank bailouts without further weakening its credit profile and/or burdening taxpayers.

"However, at the same time, maintaining confidence in the financial system is vital for the underlying economy," reports the news provider.

It stated that the government will need to be certain of the "standalone viability" of the banking sector before its stake is sold off.

Moody's also made reference to the "extraordinary support" that has been offered to the banks following the financial crash.

Its claims come after the part-nationalised Royal Bank of Scotland (RBS) and Lloyds Banking Group (LBG), which became predominantly taxpayer funded following a string of bailouts, posted a combined loss of almost £10 billion for 2009.

If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last 6 years from RBS or LBG then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000.ADNFCR-2776-ID-19657715-ADNFCR


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