Bank bailout cost hits 850 billion pounds

Bank bailout cost hits 850 billion pounds

LONDON (Reuters) - The price tag for bailing out UK banks has hit 850 billion pounds but Britain's spending watchdog says the final cost to taxpayers will not be known for years. The independent National Audit Office (NAO) said Friday the government was justified in asking the public to shore up the shaken sector at the height of last year's financial crisis -- although lending to businesses was likely to miss targets.

iii.co.uk