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Royal Bank of Scotland

HM Treasury written question – answered on 22nd June 2015.

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Photo of Louise Haigh Louise Haigh Labour, Sheffield, Heeley

To ask Mr Chancellor of the Exchequer, what representations he has received on turning the Royal Bank of Scotland into a network of stakeholder banks held in trusts for the public benefit.

Photo of Louise Haigh Louise Haigh Labour, Sheffield, Heeley

To ask Mr Chancellor of the Exchequer, if he will commission a cost benefit analysis of alternatives to selling the government stake in the Royal Bank of Scotland.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

The Government has been consistent and clear that its objective in respect of RBS ownership is to return the bank to the private sector in full.

This policy is supported by recent advice from the Governor of the Bank of England that “it is in the public interest for the Government to begin now to return RBS to the private sector”, and that “there could be considerable net costs to taxpayers of further delaying the start of a sale”. The findings of the recently published Rothschild report into the Government’s shareholding in RBS concur with this assessment.

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