Metro bank hands back £50 million of RBS grant money

Monzo Chat
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If metro bank is handing back £50 million of the £120 million it got from the Banking Competition Remedies hopefully this means the committee can allocate it properly this time and maybe allocate some or all of it to Monzo

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It will be interesting to see what happens to the cash now

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Maybe this is why I was asked a survey on my opinion on Metro Bank :thinking:

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I’d imagine quite a few other banks will want to know what happens now.

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Metro Bank has now given back the £50 billion Let’s hope they open up pool A to new entrants so Monzo can apply

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50 million ? my biased opinion would be to allocate it to Monzo , who now have a business account offering - the aim of BCR was to improve business banking competition , to simply give it to Starling doesnt achieve that

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50 million ? My biased opinion is that it should be channeled elsewhere to where its needed more right now… ya know like the NHS? (I know, I know it’s not how it works!)

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but what would you do with the extra 4 hours in the day that the £50,000,000 funds in the NHS (£134,000,000,000 / 365 / 24 ) ? rather than the one time funding of promoting more competition in business accounts to help build new businesses to pay more tax to fund the NHS

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Seriously? Right now. NHS need the money. RIGHT NOW.

Long term will take care of yourself. I’m leaving this nonsense conversation.

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sorry you feel its a “nonsense conversation” but yes seriously :slight_smile: the NHS depends on taxpayers money , Government money is generated by businesses employing workers who then pay tax for the Government to spend , what would you spend the £50,000,000 on “RIGHT NOW” for the NHS that will make that much difference, as I said its 4 hour running costs , what will that extra 4 hours do ? where would you put that £50,000,000 right now to increase the NHSs capabilities , do we have thousands of trained nurses that are just waiting to come back in to the NHS for the “right” wage this morning , do we have newly manufactured Ambulances just waiting to be bought , along with the highly skilled staff to run them , maybe a £50 bonus for each of the NHS 1 million workers , tell me what you would spend it on right now ?

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