Wednesday, 8 October 2008

£50bn for what??

. The BBC reports that Alastair Darling is to unveil a rescue package for the banking sector....

Simple question; one which I would have posed in terms of $700bn for what if i had happened to be American. £50bn of rescue package and what is the taxpayer getting in return?? Obviously it is hard to comment without concrete details but it is my view that the government should not be supported on this unless, at a bare minimum, the money comes with stringent regulatory strings attached. Also, some of this money should go towards guaranteeing savings; if it doesn't then their is no protection for people and once again their money is being spent recklessly.

We should be the party that is stepping forward and making sure the taxpayer is getting value for their money even if that means breaking the cross-party consensus.

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