The cost of saving Northern Rock could cost the tax payer £2billion, according to a report from the Commons Public Accounts Committee.
The Newcastle-based bank got into difficulties in 2007 when it became the first bank in 150 years to suffer a run during the then financial crisis.
Margaret Hodge, the committee's chair, has said the then Labour government took too long before deciding to nationalise the bank in February 2008.
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On a tour of the North East today, the Chancellor George Osborne made a series of promises which he claimed would help create 50,000 jobs.
Hundreds of people are expected to take part in two separate demonstrations in Newcastle tomorrow.
Teesside car parts manufacturer Nifco has announced a new £50 million deal with US car giant Ford.