Skip to main content
Osborne ‘recklessly irresponsible’ in RBS sell-off at £15bn loss

UNITE condemned George Osborne as “reckless” yesterday after he announced the immediate sale of the government’s stake in the Royal Bank of Scotland (RBS).

UK Financial Investments (UKFI), through which the Treasury owns its 79 per cent share, is seeking to flog off £2 billion worth over the coming fortnight.

Unite national officer for finance Rob MacGregor said the government’s plans were “recklessly irresponsible.”

  • The Financial Times reported yesterday that Mr Osborne wants to flog off £32bn worth of public assets by the end of the financial year, breaking even Thatcher’s record.
The 95th Anniversary Appeal
Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
Similar stories
The skyline of Canary Wharf in London as the cold snap continues to grip much of the nation, February 14, 2021
Inequality / 14 July 2026
14 July 2026

Trade unions call for windfall tax hike to fund social energy tariff to public’s energy bills

Prime Minister Sir Keir Starmer delivers a speech during a visit to Malloy Aeronautics in Berkshire following the publication of the long-delayed defence investment plan, June 30, 2026
Warfare / 2 July 2026
2 July 2026

Government's plan means ‘extra cash for war and overseas interventions, but less for schools and hospitals,’ Unison general secretary Andrea Egan warns

Andrew Fisher and King O'Malley (bearded), minister for home affairs, at the naming of Canberra in 1913 / Pic: Public domain
History / 28 February 2026
28 February 2026

KENNY MacASKILL reminds us of the unprecedented political career of a Scottish miner’s militant son who stayed the course and true to his roots

Barclays, Sheffield
Britain / 20 October 2025
20 October 2025