Saturday, 19 December 2009

Banking on high fliers

What a pity Flyglobespan didn't have access to the billions of pounds of public money made available to the banks. The £34 million that was withheld from the company would hardly even be noticed in the bank bailout - it's about one third of one per cent of the current estimate for the final figure for the bailout.

Interestingly, that final figure is £10 billion to bail out the banks (so the Chancellor says) - which is exactly the extra amount the Chancellor has decided to squeeze out of Scotland's oil fields over the next six years. Couldn't afford to bail out our banks? Funnily enough, the Chancellor says otherwise.

Mind how you go!

1 comment:

tris said...

It seems that Mr Darling and Mr Brown got it wrong. Not only could we have afforded to bail out our own banks, we could have bailed out theirs too.

When you add that to the news that Ireland has emerged from recession whilst tee UK remains there, despite Mr Brown telling us that the UK would lead the world out of recession (can you lead from the rear?) and Mr Murphy's insulting comments about how he didn't want Scotland to be sad and backward looking like Ireland, it seems that the Labour lot don't really have much of an inkling about the economy.