The British Government has issued a bailout fund rescue the banking system for 850 billion pounds (933 billion euro/USD1, 4 trillion). This is the largest rescue ever issued by the British. "It is difficult to imagine how much economic and social consequences that must be borne by England if the major banks were allowed to collapse," said the head of the British National Audit Office (NAO) yesterday Amyas Morse, as quoted by AFP. He said the Government of British Prime Minister Gordon Brown has taken the right policy to save the banking system after the collapse of investment bank United States (U.S.) Lehman Brothers. "Treasury is justified if the use of tax money to protect deposits and stabilize and restore confidence in the financial system. But the question is how much should be borne must pajak. take a long time," said Amyas.
England has issued bailoutmiliaran pounds, including for the Royal Bank of Scotland (RBS) and Lloyds Banking Group (LBG). Meanwhile, Northern Rock was nationalized. Currently, 43 percent of shares already owned by LBG British Government and RBS up to 84 percent. The British government rescue package worth 850 billion pounds, including the purchase of shares, guarantees, loans and insurance schemes are made for financial institutions. Approximately 117 million pounds has been used to buy stock and direct loans to banks.

This data is presented to ease the tension between the RBS and the British Government plans related annual bonus cuts RBS executives. NAO agreed with the British Government wishes. NAO argues if RBS executives do not agree with government policy, they can submit his resignation.