Is that figure per year, per month, per lifetime ?
per lifetime. The company owes the bank of england and therefore us 23billion and rising. split the amount they owe between the tax paying people of the country and voila (more or less)
I just find it a little ironic that were lending Northern Rock money at an incredibly low interest rate and its only way of repaying us is by charging us higher rates of interest on mortgages. When its maybe a few pounds per person fair enough but as were now approaching £1000 per person its starting to get a little silly. Id rather the bank of England absorbed the bank tbh. Maybe all the mortgage customers could get an interest rate on their mortgages that matches the rate were giving Northern Rock
Until something changes, theyre borrowing our money at a low rate in order to charge us a high rate when we borrow it back.