Monday, 21 January 2008

Some rough numbers on Northern Rock

The Government has bailed out Northern Rock by supplying them with £25bn loans. This is corporate welfare at the worst I can think of. A few rough numbers.

  • 29.5 million tax payers in 2006-07.
  • Each individual tax payer will loan £847.50 to the Rock.
  • A rough estimate is the loans value to around £1bn subsidy outright. That is £33.90 each tax payer has given the rock.

1 comment:

Anonymous said...

Dush is the man