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Government attacked over RBS 'fire sale'
A petition has been launched to stop the government from selling its remaining stake in the Royal Bank of Scotland (RBS).
The campaign by SumOfUs claims that the government is “rushing through a fire sale” that it has alleged will result in a £13bn loss to taxpayers.
The petition states: “Rather than selling off our [the taxpayers’] stake at a loss to people who want to carry on with business as usual, the government should be finding ways to make the bank work for the good of the nation, using it to invest in fixing our broken banking system.”
SumOfUs said, before the General Election, George Osborne had promised that the sale of RBS would recoup the £45.2bn spent to save it from collapse.
It claims the Chancellor, “thinks he can get away with selling it as a massive loss by rushing through the sale before we have time to stop him.”
The online activism group refers to itself as a “new world-wide movement for a better global economy.”
At the time of publishing, the petition was fewer than 400 signatures away from its 120,000 target.
When the government first sold shares in RBS – a 5.4% stake in August - George Osborne came under fire from former Shadow Chancellor Chris Leslie, who claimed taxpayers had lost as much as £1bn.
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