Sunday, 12 October 2008
With the imminent nationalisation of both the Bank of Scotland and the Royal Bank of Scotland at the cost to the Exchequer of £50billion or many £Mandelsons, would it not be reasonable to expect economies to be made in North Britain such as the abolition of its devolved parliament and executive? For isn't the payment from mainly English taxpayers to bail out the Scottish-based banks a twenty-first century version of The Equivalent? Ironically the Royal Bank of Scotland was established as the Equivalent Society to administer the £398,085 10s bail out to settle the debts of the Company of Scotland. By the way, that is now worth either this or £59.7million so have English taxpayers paid too much for Scottish debts at the insistence of our Scottish Prime Minister and Scottish Chancellor?