The National Audit Office (NAO) has revealed the Treasury provided total outstanding support of £141bn to help maintain financial stability in the banking sector up to March this year.
This level of support is down from the total a year before of £242bn and a peak of £1.2tr, but to remove the support, the NAO notes the loans will need to be repaid, the guarantees withdrawn, and eventually the shares returned to private ownership.
The HM Treasury Resource Accounts 2012-13 show that in return for providing support to the banks...
About Robert Lovell
Business and finance journalist