Skip to main content

Newsroom

May 2, 2013

Osborne Allies Ready to Sell Bank Stakes Before General Election

“George Osborne’s allies are stepping up efforts to prepare for a reprivatisation of Royal Bank of Scotland and Lloyds before the general election, even if their share prices remain below the levels where they were rescued.”

“Conservatives close to the chancellor argue that Alistair Darling, his Labour predecessor, paid too much for shares in RBS and Lloyds when he injected nearly £66bn into the banks’ bailouts.”

“By saying the Treasury got a bad deal on the rescues, Mr Osborne hopes to prepare the public for a large loss if privatisation begins before the 2015 election. The combined paper deficit today on taxpayers’ 82 per cent shareholding in RBS and 39 per cent stake in Lloyds is about £24bn.”

***

Read the full Financial Times article here.

 
In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today