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Financial Services

Volume 596: debated on Thursday 11 June 2015

The Chancellor announced yesterday, following advice from the Governor of the Bank of England and N M Rothschild, the Government’s independent advisor, that the Government plans to initiate share sales of RBS in the coming months. Copies of the advice have been made available on HM Treasury’s website.

As Rothschild noted, the UK is currently in a position where alongside the United States, the taxpayer can comfortably expect to secure proceeds which exceed what they put in to overall banking sector interventions.

The Chancellor was advised that it is in the interests of the taxpayer to begin sales soon, with decisions on specific details of a sale to be made in due course.

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