- 2 updates
Economic Secretary to the Treasury Sajid Javid has been tasked with drawing up plans that would give everyone in the country shares in RBS worth £300-£400, according to the Independent and Daily Mail.
Party sources were quoted by the newspapers as saying:
The Treasury insisted it would dispose of its stake in Royal Bank of Scotland "at the right time and in the interests of the taxpayer" amid reports a pre-election share giveaway was under serious consideration.
Scandal-hit RBS - which is 81% state-owned after a £45 billion bailout in 2008 - could be ready for privatisation this year, but at present prices that would mean a huge public loss.
The Liberal Democrats have championed the idea of a share giveaway and it was reported tonight that Conservative ministers were also now examining the idea of handing it back to taxpayers.