Taxpayers are poised to take on the "toxic" debts of High Street lenders in a new bank rescue deal that could cost the Treasury billions of pounds.
Under the "pay as you go" plan, details of which were still being hammered out on Saturday, the Government will create a new insurance scheme that would see liabilities of up to £200 billion potentially kept on the public books for years.
Taxpayers would not face an immediate upfront cost but could be hit with payments in future if banks' assets fell below a certain level.
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Hello? Any Brain cells left out there?? Wake up and say NO!
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