PM: Must get RBS sell-off right

The Prime Minister has said he taxpayers expect the Government to get the sell-off of RBS right. He said he thinks "they are more interested in getting their money back than the time."

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Hester made 'important contribution' says minister

RBS chief executive Stephen Hester made an important contribution to Britain's recovery from the financial crisis, Treasury Minister Sajid Javid said today.

RBS Chief Executive Stephen Hester. Credit: David Cheskin/PA Wire/Press Association Images

Mr Javid told the House of Commons that RBS could now be prepared for a return to the private sector, adding it would have a far greater focus on it retail operation within the UK.

He said Mr Hester, who yesterday announced that he was stepping down as chief executive, would receive a final package of only one third of what he could have received under the contract drawn up by the last government.

Treasury Minister Sajid Javid. Credit: Lewis Whyld/PA Wire/Press Association Images

Mr Javid said that when Stephen Hester took over the bank was on the edge of collapse and posed a huge risk to financial stability.

"It had been bailed out by the British taxpayer at a cost of over #45 billion. Stephen Hester brought it back from the brink and since then he has worked hard to make RBS a safer and a stronger bank, better able to support its customers."

"Stephen Hester has made an important contribution to Britain's recovery from the financial crisis."

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