Banks: Finance

Treasury written question – answered on 8th April 2010.

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Photo of Angus MacNeil Angus MacNeil Shadow SNP Spokesperson (Scotland), Shadow Spokesperson (Culture, Media and Sport), Shadow Spokesperson (Environment, Food and Rural Affairs)

To ask the Chancellor of the Exchequer with reference to Box C4, page 213 of the Budget 2010, what estimate he has made of the net fiscal cost of the Government's financial sector interventions as at 24 March 2010; and when he expects to publish the detailed calculations.

Photo of Sarah McCarthy-Fry Sarah McCarthy-Fry Parliamentary Secretary, HM Treasury

Budget 2010 set out that:

"At current market prices the cost of the financial sector interventions net of fees and other income would total £6 billion"

(Financial Statement and Budget Report 2010, p213). Details of the derivation of this figure are given in the text on pages 213 and 214.

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