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Blog: Time to start manufacturing mattresses?
- Story by: Emma Ann Hughes
- Magazine: MortgageAdviser
- Published Wednesday , October 08, 2008
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Almost 11-and-a-half years later I can say forget Northern Rock, special liquidity schemes and the part nationalisation of the former bowler hat wearing wonder that was Bradford & Bingley… today was the day the British banking system changed forever.
The UK government has announced details of a package to improve the standing of the banking system that is worth up to £50bn and will cost every individual taxpayer roughly £2,000.
The Bank of England has also clearly bowed to pressure and announced the base rate has been slashed from 5 per cent to 4.5 per cent a day earlier than expected.
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