the Labour shadow treasury minister, accused the Cameron government of “casually” losing £1bn.| glObserver Global Economics

Chancellor George Osborne is facing criticism for selling the shares at well below the price of about 500p the then Labor government paid for them. The 170p difference represents a loss of about £1.07bn on the shares sold. The government’s sale cuts the government’s stake in RBS to 73%.

Sourced through from:

Mr Carney said in June the phased sell-off ”would promote financial stability” and benefit the wider economy. As governor, Mr Carney is also chairman of the board of the Financial Policy Committee, which is tasked with protecting the stability of the financial system.

UK Financial Investments (UKFI), the company through which the Treasury owns shares in banks like RBS, “has taken the view that there is a window of opportunity to start this process,” she told the Today program.

See on Scoop.itglObserver Europe


Author: globserver

Director of Eyecom china

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