Advertisement

  1. National

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."

View all 24 updates ›

Tories say Labour spent £12 billion too much on RBS

Labour overpaid by £12 billion when bailing out the Royal Bank of Scotland with taxpayers' cash, the Conservatives have claimed.

Treasury Minister Sajid Javid said research on the then-Labour government's £45 billion bailout in 2008 had indicated the over-payment on the bank's share price.

Labour spent £45 billion bailing out RBS. Credit: Joe Giddens/PA Wire/Press Association Images

Mr Javid hit back at suggestions from the Opposition that the Government's confused handling of RBS chief executive Stephen Hester's impending departure had contributed to share prices in the bank dropping this morning.

Labour's shadow treasury minister Chris Leslie had told the Commons this had wiped an estimated £2 billion off the value of the taxpayers' stake in RBS.

More on this story