Bank bail-out: every family shouldering £4,350 tax liability

Every family in the country is now facing a tax liability of £4,350 to prop up Britain’s banking system.

DAILY TELEGRAPH, 4 Nov 2009: Alistair Darling yesterday unveiled the biggest bail-out of any bank in history.

The Chancellor confirmed that the Government would pump an extra £25.5 billion into Royal Bank of Scotland, declaring that this was the only way to keep it alive.

Taxpayers have now poured a total of £53.5 billion into RBS alone, including the £20 billion part-nationalisation last year and another £8 billion set aside yesterday as insurance against further trouble in the future.

In total, the Government has now pumped £74 billion of taxpayers’ money into the banks since the start of the financial crisis a year ago.

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