Jeremy Hunt said the UK spent £1 trillion bailing out the banks. He was only £863 billion out

Jeremy Hunt: ‘We spent just over £1 trillion bailing out the banks after the financial crisis.’

Incorrect, the total government spend was £137 billion. Most of this has been paid back and around £27 billion is still outstanding. Around £1 trillion worth of financial guarantees were provided to investors—but these were promises designed to restore confidence in the banks, not cash for spending.

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