In the event of a company going into insolvency the Crown who picks up
annually £200M+ worth of costs should be able to claim that back as a secured
creditor - the proceeds presently go to the banks as the secured creditor.
Gordon Brown as Chancellor was right to make all unsecured creditor equal
with the removal of Crown preference - What he and the officials did not
anticipate was the banks and asset based lenders would make themselves the
secured creditors and take the money that should have gone to SMEs and the tax
payer!
The banks are pocketing £200+ of money that should have gone to the taxpayer through fraudalent charges!
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