UK 'may never recover' £66bn spent saving RBS and Lloyds

clock

The UK economy may never recover the £66bn spent on rescuing Royal Bank of Scotland (RBS) and Lloyds, a new report has warned.

A report released today from the influential House of Commons' Committee of Public Accounts' says real risks remain around the sale of stakes in both state-backed lenders. It said any sale is not likely "any time soon" as "huge challenges remain" before that can be achieved. "The £66 billion cash spent purchasing shares in RBS and Lloyds may never be recovered," it added. RBS was rescued at the height of the credit crisis four years ago, while Lloyds was forced into a deal to rescue HBOS which in turn led to it being bailed out. At the time one lender - Northern Rock - had alrea...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Equities

 CFA Institute's Matt Winters: Reform needed to fix company valuation and financials disconnect

CFA Institute's Matt Winters: Reform needed to fix company valuation and financials disconnect

Intangibles accounting needs improvement

Matt Winters
clock 16 May 2025 • 3 min read
Webinar: What's next for equities?

Webinar: What's next for equities?

How can investors navigate the impact of tariffs and a rapidly changing global economy?

Investment Week
clock 08 May 2025 • 1 min read
Investment, Talks Webinar: Changing global patterns can bring new opportunities

Investment, Talks Webinar: Changing global patterns can bring new opportunities

Join Investment Week and Capital Group on the 22nd May at 11am

Hardeep Tawakley
clock 29 April 2025 • 1 min read
Trustpilot
Loading page