More than £66 billion of taxpayers' cash invested in RBS and Lloyds may never be recovered, a spending watchdog warned today.
The public accounts committee criticised the the Treasury for making a series of mistakes in its handling of Northern Rock, saying that officials were slow to react to the banking crisis because they lacked correct skills and understanding.
Margaret Hodge, chair of the committee, said the sale of the bank was handled well but still led to a loss for taxpayers of nearly half a billion pounds.
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A bright and breezy day tomorrow with the best of the sunshine through the south and east once early mist and fog patches clear.
Thousands of people have died shortly after being declared fit to work by the Government, new figures reveal.