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Paying For Bank Bailouts in Advance

Duration:
18 minutes
First broadcast:
Monday 01 February 2010

Should banks be forced to pay insurance money up-front against the cost of any future rescue they might need? Sweden has brought in such a scheme, where banks must pay a 'stability fee'. Essentially they are paying for their own bail-outs in advance, so that the taxpayer won't have to foot the bill.

The idea is gaining support among bankers and politicians in various countries. Lesley Curwen talks to Swedish Finance Minister Anders Borg about how it works. And she discusses other ideas for taxing the banks with Dean Baker, Co-Director of the Centre for Economic Policy Research in Washington DC, and Charles Dumas, Chairman of Lombard Street Research in London.

Plus Lucy Kellaway ponders whether it's hip to wear a scruffy beach bangle under a pin-striped suit.

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