Osborne agrees to sell taxpayer stakes in RBS and Lloyds - reports

clock

George Osborne has started the sale process of the taxpayer stake in Royal Bank of Scotland (RBS) and Lloyds, within hours of both banks getting approval from regulators over their capital strength.

The Times reports the Chancellor promised to “set out the way ahead” for the privatisations after the report of the Parliamentary Banking Commission, which is due in mid-June. He said: "Having refocused their businesses, now is the time for a clear strategy on how to return RBS and Lloyds to the private sector in a way that protects value for the taxpayer." A statement on how the privatisations might be conducted is expected either before Parliament adjourns in July or after it returns in the autumn. The Times reports Lloyds and RBS issued statements yesterday saying that they had ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK inflation rises to 3.8% in July

UK inflation rises to 3.8% in July

Core CPI also up to 3.8%

Sorin Dojan
clock 20 August 2025 • 2 min read
Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read