UK Treasury pays for crisis advice

According to figures uncovered by the National Audit Office the Treasury paid £107m of taxpayer cash to City firms for their assistance over the past two years. Although it expects the banks to pay back £100m of the fees, it admits that, so far, not a penny has been reimbursed. The NAO indicated that the Treasury may not have secured the best price for the advice, and could have wasted money with overly generous contracts.

 
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