The government just made £2.1bn selling RBS shares so why are people annoyed?

It might look like the taxpayer is quids in – but we’re not

The state has sold a 5.4% stake in bailed-out bank RBS bringing in £2.1bn – a big boost to the country’s books. But not everyone is pleased by the move.

Some people have critiscised the government for selling the shares at less than it cost to buy them.

Shadow chancellor Chris Leslie said the Conservatives shouldn’t be making a £1bn loss by selling the shares right now.

“Why this rush to sell when the share price is so far below that paid at the time of the rescue? RBS had to be bailed out urgently, but it doesn’t have to be sold off at the same speed,” Leslie said.

However, last month George Osborne said: “There is an argument that by starting to sell now you might create more of a market for RBS shares and lift the price, but I am not banking on it”.  

NOW READ:

*Facepalm* The government is selling its shares in RBS and not even trying to make a profit

Say goodbye to all these publicly-owned assets because Osborne is selling them

Social Bookmarks