Bank aid sends debt to £2trn

Jones, Lee
February 2009
Money Marketing;2/26/2009, p24
The article reports on the issue concerning the British government aid for Lloyds TSB Bank PLC and Royal Bank of Scotland (RBS), which added £ 1.5 trillion to the national debt in Great Britain. It states that the Office of National Statistics had to categorize RBS and Lloyds as public sector entities, because their corporate policies are in part controlled by the state government. It cites that their arrears pushed up the nation's debt to 147% of the nation's profits.


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