How many taxpayers would rather keep 1,000 extra jobs at Northern Rock or get their money back as soon as possible from Virgin Group!?! Is Robert Peston's leftie credentials slipping out!?!
"The chancellor has decided that the priority is speedy repayment of all those taxpayer loans, even if it means job losses." - Robert Peston, BBC business editor.
For the sake of 'just' £250m, wouldn't complete nationalisation of Northern Rock now offer the taxpayer better value for money rather than Richard Branson's shameless offer!?!
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4 comments:
And how typical of Brown and his ponderous follying... As usual, he's stuck between a Rock and a Hard Faced basket case like Branston.....
Is NR's market cap £250m? Don't forget that this is supported by government open-ended loans. If the Chancellor mumbled something about calling them in, that market cap would drop like a stone, and ker-ching, we could nationalise it for about two-and-sixpence.
Mark, I really struggle to see why the Government should be concerned about Northern Rock shareholders.
They deserve no rewards for buying into a failed business model. They deserve to lose their shirts!
Why should they receive a refund when other business fail each year with no such compensation!
Because NR have been major donors to Nulab over the years, that's why.
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