End Taxpayer Bail-outs of Banks by removing limitation of shareholder liability.

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End Taxpayer Bail-outs of Banks by removing limitation of shareholder liability.

Petition Details

Between 2007 and 2010 the British Taxpayer bailed out the banks and bankers with cash and guarantees totalling £1,162 BILLION, equivalent to almost 3 times the total NHS budget for the same 4-year period! (Source: NAO; https://www.nao.org.uk/highlights/taxpayer-support-for-uk-banks-faqs/)

Additional Information

The remedy is to ensure that shareholders are on the hook for all the banks' liabilities without a taxpayer safety net. They will then hold bank directors and management to account and monitor risk to prevent recurrences of such disasters. To achieve this, Parliament should remove shareholders' limited liability in banks (and any other business deemed too big to fail), so that shareholders, not taxpayers, are liable for all the banks' liabilities. There can be no reasonable objection to this.

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