Guido has lost track of the repeated Bank of England interventions to try and flood liquidity into the money markets. Those alone could easily be as much as £200 billion or more.
The government bail out, never mind the Bank interventions, is secured against the hard work of Britain’s 28 million taxpayers. The government is risking more than £10,000 for each taxpayer.
UPDATE : The bail-out we are told was finalised at 5 a.m. this morning, the tri-partite authorities meeting in Downing Street was at 5 p.m. last night. Good to know that a £300 billion plan to “guarantee” the economy can be cobbled together in less time than it takes to do a school homework project. Fills Guido full of confidence.