Don’t you just love the language of spin and journalism. The government plans to sell “its” 80% stake in RBS, yet over and over they have been telling us it is OUR tax that rescued this bank. OUR being the tax payer, so it’s the British tax payers who own the shares. The spin goes on, listen in – the government want to sell back to us the tax payers the shares we purchased in the first place to the tune of 46 BILLION pounds of our hard earned money. What do you think of that – sell you back something you already own!! sounds like a the sale of the century. We the tax payer will not see any rebate or refund direct to our pockets, ALL the cash will simply be hoovered back into the black hole of Government debt along with billions of pounds more from tax payers, turned investors, paying twice for the same thing. If you see Sid tell him we’d be certified insane if we fall for this con trick. The government really do think we’re all half wits ! Here’s how the good old BBC report it.
The government plans to sell its 80% stake in the Royal Bank of Scotland, Chancellor George Osborne has announced in his annual Mansion House speech.
Governor of the Bank of England Mark Carney said the phased sell-off “would promote financial stability” and benefit the wider economy.
The government provided RBS with a £45.5bn bailout in 2008.
But the Unite union, whose members include bank workers, said the deal would “short-change the public”.
The government paid 500p a share for the bank, compared with the current price of about 361p – the shares were up nearly 2% on the news.
Mr Osborne also set out more details of the sell-off of the government’s remaining stake in Royal Mail.
Royal Mail employees will share a further 1% tranche in the firm, while 15% will be placed with institutional investors.