Chancellor of the Exchequer George Osborne is considering the share scheme promoted in James Conway, Toby Fenwick and Michael O’Connor’s report, ‘Give Us Our Fair Shares’, published by the Centre for Policy Studies in May 2011. This was featured in both The Daily Mail and The Independent on Saturday 16th February 2013.
“Everyone in Britain could be given Royal Bank of Scotland shares worth hundreds of pounds before the next election, under plans being considered by George Osborne.
Senior sources say the Chancellor has decided to offload the State’s 82 per cent stake in the bank before 2015.
And Tory ministers believe the most radical solution – simply giving the shares away – has huge political benefits.
It would pump more than £30billion into the economy, providing a much-needed boost without the need for pre-election tax cuts.”
To view the full article, please visit The Daily Mail website
“The Chancellor George Osborne has ordered Treasury officials to draw up plans for a Government “give-away” of Royal Bank of Scotland shares to boost the economy – and the Coalition’s electoral prospects – by 2015.
Mr Osborne has concluded that continued taxpayer ownership of the bank is politically “untenable” amid rows over bankers’ bonuses, interest-rate manipulation and the mis-selling of financial products. Advisers also believe that there is no realistic prospect of the Government recouping its full £45bn investment in the bank and are proposing a scheme to “hand it back to taxpayers” as early as 2015.
Under one plan being developed, every taxpayer or voter in Britain would be given shares in RBS that would be worth, according to one Treasury insider, between £300 and £400 at current prices.”
To view the full article, please visit The Independent website
James Conway, Toby Fenwick and Michael O’Connor’s report, ‘Give Us Our Fair Shares’, can be found here
Date Added: Monday 18th February 2013