27 Feb '12, 10am

According to @theneweconomics #HSBC receives a £7bn subsidy from the UK government

A fair deal for taxpayers? Banks occupy a unique position in our economy and enjoy privileges that other industries can never hope for. This is most obvious in the way that major banks – Northern Rock, Royal Bank of Scotland, and Lloyds TSB – were bailed out by the government during the financial crisis, moves that have prompted a great deal of public concern. But these bail-outs were just the tip of the iceberg. All the large banks also benefit from an implicit subsidy from taxpayers; because they will be bailed out, if necessary, markets view lending to them as low risk. This report quantifies this ‘too big to fail’ (TBTF) subsidy using methodology developed by the Bank of England. We found that while the TBTF subsidy has fallen from its mid-2009 peak, the ‘big five’ UK banks still enjoyed a combined TBTF subsidy of £46 billion in 2010. The TBTF subsidy in the UK is 62 p...

Full article: http://neweconomics.org/publications/quid-pro-quo

Tweets

GMO Receives Government Support For .OSAKA @dom...

domainnews.com 28 Feb '12, 12am

GMO Receives Government Support For .OSAKA Tuesday, 28 February 2012 00:59 David Goldstein Tweet Share The Japanese GMO Re...

Lord Stern: Government must reassure business i...

businessgreen.com 27 Feb '12, 12am

In his own words Lord Stern is a "policy wonk". He is frustrated by the way the media reports climate science and scandals...

UK edges closer to first #CCS plant, as #Davey ...

businessgreen.com 27 Feb '12, 11am

The UK government has called for proposals for a variety of new projects to support the building of the UK's first carbon ...

UK-GBC joins calls for an Energy Bill Revolution:

ukgbc.org 27 Feb '12, 12pm

Government revenues from the EU Emissions Trading Scheme and Carbon Floor Price are expected to raise £4 billion a year by...

Ernst & Young: Green energy investors turned on...

businessgreen.com 28 Feb '12, 12am

Advancing plans for a fleet of large offshore wind projects have seen the UK rise to fifth on a list of the world's most a...

Renewable Energy: UK versus USA

Renewable Energy: UK versus USA

ecopreneurist.com 26 Feb '12, 11am

The UK, if anything, has faired even worse dropping from fifth place out of the top ten altogether. Under the Labour gover...

Four China polysilicon firms demand government start anti-dumping and anti-subsidy investigation against US firm...

Four China polysilicon firms demand government ...

digitimes.com 16 Feb '12, 9am

Four China polysilicon firms demand government start anti-dumping and anti-subsidy investigation against US firms, accordi...

UK industry renews calls for biofuels target: T...

renewableenergyfocus.com 27 Feb '12, 5pm

The call came as MPs on the influential Committee on Energy and Climate Change heard evidence on the sustainability of UK ...

Commentary: China new LED lighting subsidy policies to focus on commercialization

Commentary: China new LED lighting subsidy poli...

digitimes.com 23 Feb '12, 4am

Commentary: China new LED lighting subsidy policies to focus on commercialization Siu Han, Taipei; Jackie Chang, DIGITIMES...

U.K. PV industry criticizes government's Suprem...

solarindustrymag.com 21 Feb '12, 5pm

The U.K.'s Department of Energy and Climate Change (DECC) is expected to formally file a Supreme Court appeal today challe...

Chinese EV Market Gains Traction with Continued Government Support

Chinese EV Market Gains Traction with Continued...

renewableenergyworld.com 23 Feb '12, 4pm

Production and sales volume of EVs totaled 8,368 units and 8,159 units respectively during 2011, both up significantly fro...

UK wave and tidal has huge potential – needs go...

renewableenergyfocus.com 21 Feb '12, 11am

With the largest wave and tidal resources in Europe, up to 20% of the UK' electricity could eventually come from marine re...