SNP Treasury spokesperson Stewart Hosie MP has commented on the announcement of losses today (Wednesday) by the Lloyds Banking Group.
Mr Hosie said:
“The black horse bank is up to its ears in the red - and we must hope that the level of these staggering debts has peaked and results will improve in the months ahead.
“Lloyds blame HBOS for dragging it down, and it is quite clear that Gordon Brown sold the country a con with his cut and shut merger of the two banks.
“This announcement, along with news that Northern Rock is borrowing an extra £11 million a day from taxpayers, and that bank lending to businesses has dropped by a record amount over the last quarter, all underline just what a mess the economy is in as Gordon Brown and Alistair Darling go off on their holidays.”