Bank bail-out 'a good taxpayer investment'

Image caption,
Truett Tate is group executive director of Lloyds

A director of Lloyds banking group has suggested British taxpayers should be delighted with the opportunity to invest billions in stricken banks.

Truett Tate told the BBC Scotland investigations team that he knew many people who would "love that kind of return on their investment".

His comments come after a BBC poll found 64% people did not believe the government could prevent another crash.

About 70% of those polled also said they did not trust Britain's bankers.

In an interview due to be broadcast on BBC Scotland on Monday, Mr Tate - group executive director of Lloyds - told reporter Mark Daly: "There are a whole lot of people, myself included, who would love to get the kind of return on their investment that the taxpayer has made into this bank.

"They've made an investment that is making money.

"If you could come to me, with an investment in the infrastructure which would have returned more for the taxpayers, I'm all ears."

Financial crisis

The UK taxpayer currently has a 41% share in Lloyds Banking Group and an 83% share in the Royal Bank of Scotland.

In an Ipsos MORI poll for the programme, more than 1,000 people were asked whether their trust in bankers was restored now that the banks had returned to profit.

Of those polled, 70% said no.

The survey also asked if people believed satisfactory action had been taken against those bankers who lost money.

Only 16% said yes.

Almost two-thirds of people said they did not believe the UK government could prevent another financial crisis from happening.

Trust Me I'm a Banker is due to be screened on BBC One Scotland at 1930 BST.

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