© 2020 – 2023 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
News

Greensill collapse could cost UK taxpayer up to £5bn, MPs told

One expert tells Treasury committee firm’s business model ‘was as close to fraud as you could imagine’

The failure of Greensill Capital will cost UK taxpayers up to £5bn, a parliamentary inquiry has heard, as one expert said the lender’s business model was “as close to fraud as you could imagine”.

The former City minister Paul Myners said the government could end up footing the bill of unpaid state-backed loans and social support for thousands of steelworkers whose jobs are currently at risk at one of Greensill’s largest borrowers, Liberty Steel, owned by metals magnate Sanjeev Gupta.

Continue reading…

Related posts

UK house prices fall at fastest rate since 2009, says Nationwide

AEA3

Keir Starmer criticises ‘grotesque chaos’ under Liz Truss government

AEA3

Australian pro surfer Matt Wilkinson’s narrow escape from shark caught on camera

AEA3

Pin It on Pinterest

Share This