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Just speaking on the Today programme the Shadow Chancellor George Osborne said (not verbatim):

  • The recapitalisation is the right thing to do and I hope it works.
  • The £200bn of loans from the Bank of England for the interbank market are more important than the £50bn recapitalisation in order to get the credit markets flowing again.
  • The banks being recapitalised should not pay big bonuses to their staff.
  • Calls to suspend Bank of England independence are wrong.  It is for the Bank to decide interest rates.

73 comments for: George Osborne says £50bn recapitalisation is “right thing to do”

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