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The Treasury is weighing plans for a “bad bank” to hold stakes in bailed-out businesses amid fears that nationally significant firms could fail in the Covid-19 crisis. The plans, which are at an early stage, range from creating an “asset resolution” scheme to recoup value for taxpayers, to a sovereign wealth fund. The plans echo the Labour government’s establishment of a bad bank during the 2008 financial crisis, when UK Financial Investments (UKFI) was set up to manage the mortgage books of Northern Rock and Bradford & Bingley after they collapsed.
