Paul Lewis
speaker
150 appearances
6 recordings
1 series
first heard Apr 2011
last heard Jan 2015
Paul Lewis’s voice in public audio — every appearance, attributed to the second.
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Appearances
But if you want to pay somebody else a third, maybe 40% of your compensation, there are plenty of people ringing us up to offer to do that.
And so this total is £25 billion.
It's in the low thousands.
It's sort of £2,000-ish from what I can see.
They have different ways of working it out, but it's around about £2,000 for each successful claim, maybe a bit more with some of the banks.
So it is a lot of money.
And, you know, over the last few years, since 2011, when the banks started paying out interest,
they've been paying out around £400 million every month.
So it's like a kind of retail quantitative easing of money being pumped into the economy.
And you do hear of people buying a new car, paying off debt.
People do all sorts of things with it, put it into savings, spend it.
Maybe they help their children with a deposit on a house.
So it is quite an extraordinary episode.
Is it over?
No, no, not at all, because the interesting thing is it's still going up and that's why we've just reached £25 billion.
And every year when the banks produce their annual reports, they say, well, we see this tailing off now.
And then every next year they say, it didn't tail off as we expected, we've had to put more money into it.
So it's still going on and I think it will go on.
It's not quite as big as it was.
It sort of peaked around £500 million a month.
Showing 21–40 of 150 · page 2 of 8
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