Taxpayers may never see the return of the £66bn spent on shares in Royal Bank of Scotland and Lloyds Banking Group four years ago, an influential group of MPs warns on Friday.
The Public Accounts Committee, the spending watchdog for parliament, says it is not convinced that the government will be able to sell its stakes in the banks for the price it paid “any time soon”.
The MPs argue that the “temporary public ownership” is likely to last for a protracted period so long as the government retains the objective of getting value for its investment.
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Yes!
Agreed! case of the ‘bleeding obvious’ in my view.