Bank shares for everybody

What a brilliant idea.

So good in fact I cannot see it happening.

The sum of it is that UK tax payers own 70 billion of shares in the rescued banks.  That's tax money that would have gone on other things like health, education and social security.  Since its an investment and not just money thrown down a hole it is plausible to get the money back.

When and how you get it back is another question.  I have hated the idea that ministers would decide how and when because you cannot trust that an individual or small group would put the interest of the country ahead of their own desires.

One idea is that every tax payer be given shares in the state owned banks.  It would be like a tax refund in a sense without the government having to give out hard cash.  That way individually we would each make a decision as to when to cash in our investment and the return on it.

Whilst I personally would like this option I am not sure how it would work out for many.  Some would cash in their shares for a new flat screen TV before the value had a chance to go up.  Others might be pressured into selling for ultra low value.


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