Bank profits and government cuts

The government tells us repeatedly that the unprecedented, swingeing cuts we face are all down to the last administration, yet New Labours decision to bail out the banks has been vindicated with large profits in the offing. These huge profits would account for a large chunk of the deficit. So, while cuts may be necessary, they should not need to be anything like as big as are promised.
sorry - too deep for me.

especially after a 4-0 beating of johnny foreigner accompanied by a botlle and half of badgers creek austarilian wine - not bad considering its an aldi special.

who says i cant live down with the council house tenants
I dont think its that simple. Yes the banks are making a profit again but i dont think he bailed out ones are makin anything like the sort of profit as what it cost to bail them out.
Also dont forget how much of that profit needs to be invested back in to the buisness. Its not in the taxpayers intrest to get our money back andto hell with the well being of the buisness that is these banks.
Also the govenment is the major share holder but not the only one so not all the money can go straight to the tax payer.
That is my understanding of the situation at a late hour on a friday night.
The bailed out banks may be in profit again(just about) but they are still in deep doodoo.The ones in deepest doodoo(i.e.the Scottish ones.Pure coincidence I'm sure) will take some time to reach the point when the taxpayer is repayed.Meanwhile the money the Labour government borrowed to keep the banks afloat needs to be repaid now and with interest so I doubt if any contribution the banks make to the exchequer will defer the need to make cuts in public spending.

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