Activists make plea to chancellor ahead of Commons debate on the issue,saying public is opposed to reprivatisationGeorge Osborne is being urged to quit the selloff of Royal Bank of Scotland shares at a loss before a parliamentary debate on the future of the bailed-out bank.
Campaigners for banking reform argue that the public is opposed to the fire sale of the government stake in the bank, which fell for the first time in August when the chancellor sanctioned the sale of shares at a £1bn loss to the taxpayer. The stake was reduced from 79% to 74% and the government has stated that its objective is to sell off its entire holding in RBS, or which was rescued by £45bn of taxpayer funds during the 2008 and 2009 crisis.
Continue reading...
Source: theguardian.com