Shouldn’t we keep a profitable bank?‏ : letter to Express 2/8/13

The Chancellor is looking joyful at the thought of selling off Lloyd’s Bank at a profit and recovering the money that was needed to bail it out.

There will obviously be a quick reduction in the National debt, which will look good on his resumé, but shouldn’t he be taking a longer term view?

We had to borrow the money for this bail-out and for the day-to-day running of the Bank. We are still paying the interest on that borrowing and still trying to run an understaffed NHS to manage those payments.

I would hope that the Chancellor has enough prudence to consider whether the potential profits would be sufficient to pay off the interest and act in the best interest of the people of this country, rather than the short term interests of his political party.


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