Engagements

Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 11:30 am on 21st January 2009.

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Photo of David Cameron David Cameron Leader of HM Official Opposition, Leader of the Conservative Party 11:30 am, 21st January 2009

The Prime Minister talks about being isolated, but does he not realise that he is the only person in the country who thinks he is doing a good job? [ Interruption. ] There was not exactly a roar of approval from behind him. The whole point about the first recapitalisation was that it was meant to get the banks lending. It has failed to do that, as even the Prime Minister has admitted. Let me put the question again. The shares were worth £37 billion. They are now worth less than £17 billion. Will he confirm—it is simple maths—that, as things stand, the taxpayer has lost more than £20 billion?

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David Clark
Posted on 23 Jan 2009 3:53 pm (Report this annotation)

I thought the first recapitalisation was to ensure the banks survived and did not leave depositors in the lurch.