Claim: We spent just over £1 trillion bailing out the banks after the financial crisis.
Fact-check: £1 trillion was not spent on bailing out banks during the financial crisis - Full Fact
Verdict: 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.
Organisation: Full Fact
Author: Joël Reland
Date published: 2019-07-04T00:00:00