Partner Article

The cost of Northern Rock

The Northern Rock rescue could cost the taxpayer up to £2 billion once all of the collapsed bank’s assets are wound down, according to the national audit office.

The taxpayer also lose about £480 million on the sale of Northern Rock PLC to Virgin Money last year. While some believe that the bank was sold too hastily, did losses at this bank save others from the same fate?

So is £2 billion a small price to pay to save our banking system? Tell us your thoughts.

This was posted in Bdaily's Members' News section by Ruth Mitchell .