Quote:
Originally Posted by Chrysalis
One could argue why should spending be cut to increase profits for banking shareholders? Hurt the many to satisfy a few.
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You're a banking shareholder indirectly via HMG's stake in Lloyds and RBS and probably via your work or personal pension if you have one. So you have a direct personal interest in their success like it or not. Having seen your tax money go in to save some of them why wouldn't you want them to be successful in the UK so that money can be recouped for the taxpayer? Profits are at least taxable, losses aren't. I'd have thought the UK taxpayer had the biggest interest of all in wanting a successful banking sector, albeit an effectively regulated one. Let's face it, it's not as though multinational businesses are just queueing up waiting to take their place and provide new jobs for us all is it.