Tories to offer cheap bank shares to the poor

Shadow Chancellor George Osborne told The Sunday Times the move would reward taxpayers for the £850bn support they have given the banking sector. The scheme would see shares offered to taxpayers at a discount, with young people and those on low incomes offered even lower prices. However, Labour hit back at the proposals, calling it a ‘gimmick', while the Liberal Democrats accused the Tories of attempting to buy votes. Osborne says the scheme will only be creates once banks are ‘properly regulated' and are not taking excessive risks. "The bankers have had their bonuses. We want a...