£66bn invested in banks may be lost

Press Association
Northern Rock
Northern Rock

More than £66 billion of taxpayers' cash invested in RBS and Lloyds may never be recovered, a spending watchdog has warned as it criticised the Treasury for making a series of costly mistakes in its handling of Northern Rock.


Officials were slow to react to the banking crisis because they lacked the necessary skills and understanding, according to the public accounts committee.
%VIRTUAL-SkimlinksPromo%