British Government pays £65 million interest to banks so far

BRITISH banks are both heroes and possibly villains with regards to the amount of money they have leant to businesses but also, they have reaped a pretty good reward from the UK Government.

The PA news agency was told, following a freedom of information request, that the Government has paid at least £65 million (€71.5 million) in interest to the banks by way of support to encourage that the loans are made.

A further freedom of information request by the British Business Bank found that they were charged at 5.1 per cent, lower than commercial loans but still much higher than the Bank of England rate of 0.1 per cent.

Thank you for taking the time to read this news article “British Government pays £65 million interest to banks”. For more UK daily news, Spanish daily news and Global news stories, visit the Euro Weekly News home page.

Euro Weekly News is delighted to continue be able to bring you a range of News from around Spain in English and Global News live as it happens.

Euro Weekly News doesn’t cost you anything but your internet connection. Whether it’s bringing you the local Spanish news or the International news today, we’ve got you covered!

Euro Weekly News, the leading free local and national newspaper in Spain, the people’s paper, we lead others follow!

Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

Comments