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The taxpayer is set to make a £27 billion return from bailing out two financially marred banks during the recession, according to The Banker magazine.
The money made from the future sale of the government stakes in Royal Bank of Scotland and Lloyds Banking Group would be enough to fund the UK's primary schools for a year or could help the state to reduce its debt to 1.1 per cent of GDP.
The investment return figure is expected to include £19 billion of share price gains, £2 billion in fees for guaranteeing bank bonds, £1 billion in loan fees and £5 billion in fees for the Asset Protection Scheme.
The taxpayer is set to make a £27 billion return from bailing out two financially marred banks during the recession, according to The Banker magazine.
The money made from the future sale of the government stakes in Royal Bank of Scotland and Lloyds Banking Group would be enough to fund the UK's primary schools for a year or could help the state to reduce its debt to 1.1 per cent of GDP.
The investment return figure is expected to include £19 billion of share price gains, £2 billion in fees for guaranteeing bank bonds, £1 billion in loan fees and £5 billion in fees for the Asset Protection Scheme.
August 31st, 2010
The Pension Protection Fund (PPF), which helps insolvent firms safeguard employee pension schemes, is making plans to avoid a funding shortfall.
Currently, the PPF is dependent on the levy that companies with final salary schemes pay the fund each year to cover its payment quota. However, experts warn that as more firms close their defined benefit schemes to take up cheaper defined contribution funds, the levy will reduce considerably.
August 30th, 2010
We are delighted to announce that Shaun Brennan is joining our ever expanding team of IFAs here at Investment Sense.
Shaun has worked in financial services for 22 years and over that time has gained extensive knowledge of the financial services industry and worked with a wide variety of clients.
I-News spoke to Shaun and asked him what areas he had previously advised on, he said “I particularly specialise in giving investment advice and advice to clients planning for their retirement. Whether this is whilst they are accumulating funds ...
August 30th, 2010
A report by the Institute of Fiscal Studies (IFS) suggesting that the poorest families in Britain have been hit hardest by the Budget has been criticised by the deputy Prime Minister.
Nick Clegg said the findings published by the IFS do not include the things the government is planning to do to get "people off benefits and into work".
He added: "If you just look at who is receiving benefits then in a sense you don't ask the most important question of all, which is how you can relieve poverty and make Britain fairer by getting people off benefits and into work".
August 28th, 2010
