Member Article

Treasury urged to offer RBS and Lloyds shares

British taxpayers would have the opportunity to own shares in RBS and Lloyds banks in a new plan proposed by think tank Policy Exchange.

Up to £34bn of the Government’s £48bn stake in RBS and Lloyds would be made available to citizens registered on the electoral roll, under the plans.

Individuals could apply for a share worth as much as £1,650 if the Government were to enact the idea.

Policy Exchange’s report, Privatising the Banks: Creating a new generation of shareholders, argues that a distribution of shares in both banks to be repaid on sale, is the best solution.

If it were employed, the share issue would be the largest since British Gas and British Telecom were sold off in the 1980s, according to the BBC.

The report suggests that a “traditional privatisation, similar to those of BT and British Gas would only be attractive to large investors with a sizeable discount. Under EU law, the discount would have to be offered to all EU citizens.

This was posted in Bdaily's Members' News section by Tom Keighley .