Responding to the announcement this afternoon from UK Financial Investments that it will begin selling a small proportion of the Treasury’s shares in the Royal Bank of Scotland, Simon Walker, Director General of the Institute of Directors, said:
“We welcome the Government’s decision to begin selling its RBS shares. The exact timing of the sale was always going to be a matter of judgement, but the overriding principle is that banks should be in private sector ownership.
“Alongside continuing sales of the Government’s stake in Lloyds, this is another step towards recovering what should be the normal position, where the taxpayer does not own significant numbers of shares in the high street banks.”
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