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Osborne's RBS Fire Sale Costs Us £1 Billion
THE taxpayer is £1 billion poorer today following George Osborne’s giveaway of shares in RBS — a bank bailed out with our money.
Public cash was used to buy shares at 502p each when the bank was bailed out amid the global crisis of capitalism in 2008.
But rich investors snapped up shares at just 330p yesterday morning as the Tory Chancellor began his latest knockdown privatisation of public assets — part of Mr Osborne’s plan to flog a whopping £32bn worth of public assets this year, breaking Margaret Thatcher’s privatisation record.
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