Alistair Darling is to offer guarantees of up to £600 billion to RBS and Lloyds Banking Group. He is asking them to lend out £40B to re-start the economy. Now let me get this right. UK GDP = £2800B, so that is more than a fifth of our gross domestic product that the Chancellor is gambling on our two biggest banks. To put it another way, that is nearly £10,000 for every man, woman and child in the UK. Hmmmm! All this to promote the new buds of economic growth.
Wednesday, 25 February 2009
The Darling Buds may not
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