Government recovers £1.3bn of taxpayer cash used in Icesave bailout

The government has recovered a further £1.3bn from the Landsbanki estate in Iceland, which operated as Icesave in the UK, following its collapse at the height of the financial crisis.

The Treasury said the government has now recovered 85% of its total claim against the Landsbanki estate. Economic secretary Andrea Leadsom has been leading negotiations on the recoveries in a series of phone calls and meetings throughout the autumn. The Treasury added the government remains committed to getting back all taxpayers' money. The government has recovered a further £1.3bn from the Landsbanki estate in Iceland, which operated as Icesave in the UK, following its collapse at the height of the financial crisis. The latest funds to be recovered will be used to pay down nation...