Government Announces Bailout Package For UK Banks

Описание к видео Government Announces Bailout Package For UK Banks

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Central banks around the world have implemented a surprise interest rate cut in a co-ordinated bid to tackle the growing economic crisis.

The UK rate was cut by half a percent - the biggest reduction for 7 years.

The Prime Minister and the Chancellor also announced a taxpayer-funded bail-out scheme for the country's major banks.

It could run into hundreds of billions of pounds.

Sky's Joel Hills reports

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