More than a decade ago the 海角视频 Government stepped in to bail out the banks in a multi-billion pound package to save the financial system from collapse.
The scale of the intervention was considered gigantic at the time but could be dwarfed by spending on the actions now being undertaken to mitigate the impact of coronavirus on the 海角视频 economy.
Here chartered financial planner Trefor Owen-Jones runs the rule over the figures being spent by 海角视频 and Welsh Governments - and how they compare.
He said: 鈥淭he likely cost to the Government to support individuals and companies for the coronavirus pandemic is likely to be far greater than the bail out to the banks in 2008 and 2009.
鈥淭hen the government spent 拢45.5billion saving RBS and a total of 拢137 billion in total.
鈥淢ost of this money has been repaid and currently the net cost of the bailout is 拢27 billion.
鈥淭his time the banks are in a much stronger financial position so the government is looking to support companies and individuals directly.
鈥淭he total cost is dependant on how long the crisis lasts but the estimate is that paying 80% of employees wages is going to cost 拢78 billion.
鈥淚ncreases to universal and tax credits will cost a further 拢7 billion.
鈥淭hey are still considering how to help the self employed they have already announced they can claim 拢95 a week but as yet not come up with more help as this is a more complicated area to cover.
鈥淭he government is allowing companies to defer paying VAT which will boost their finances by 拢30 billion although this will have to be repaid some time in the future. The abolition of business rates will cost a further 拢1 billion.
"The government is also guaranteeing business loans up to 拢350 billion this should be recoverable in the future when the loans are repaid.
鈥淭he government is hoping that by putting the money directly to firms and their employees that unemployment will go up to 700,000 which is a 6% unemployment rate up from the current 3.6%.
鈥淚f they did not take this action unemployment could have gone up to 1.5 million
"The three months payment holiday for mortgages should have no direct cost to the government although lenders profits will be lower as a result which will reduce their tax payable on their profits.
鈥淭he total cost to the government therefore will be far greater this time as little is likely to be returned to the government at a later date unlike in the banking crisis.鈥
