AIA's chief executive, Philip Turnbull, calls upon UK banks to share the wealth, especially since we paid for it. He also points out that every business saved is a business that does not default on its debts.

So far, UK government has directly invested £50bn into HBOS and RBS by buying up shares to ensure that neither bank shares the fate of Lehmen Brothers. In mid-October a £500bn bailout plan - an amount that equates to £15,770 for every taxpayer in the country - was unveiled in order to put an end to the financial turmoil. It has not worked.

With figures such as those above seemingly being tossed around by politicians and the media as though they were discussing the cost of a meal, it is exceedingly difficult to grasp the severity of the problem that currently faces us. However, what is clear is that big numbers equal big trouble, and those figures are huge.

So, the banks have been bailed out and are currently sitting tight on a nice nest egg, waiting for the whole thing to blow over. But wasn't the point of the bailout plan to encourage economic activity? What is the point of the banks receiving money of such stupefying amounts if they are not going to lend?

Banks must be made to see that that a recovery of the country's economic activity requires action from them. The benefits of action such as a single bank lending money will be felt by the country as a whole, including the struggling businesses and households, as well as the banks themselves; after all, every business saved is a business that does not default on its debts.

The trouble is that in the current climate, banks are reverting to the action they always take in times of uncertainty and that is to retain as much funds as possible to ensure that they come out of the other side of difficult times in a position of relative safety. It was the banks acting in favour of their own interests and not understanding the effects of their actions on a greater scale that got us into this mess. Should they really be allowed to continue to do so at a time when an opportunity presents itself to limit or even reverse the damage done?

Banks are so critically important to the UK economy right now that they have to be made to act. Surely we, the public, can expect action to be taken; after all, aren't they somewhat indebted to us?