Tuesday 29 May 2018 / 9:00 AM Economy / John McDonnell

John McDonnell responds to reports the Government plans a further sell-off of RBS shares at a loss to the taxpayer

John McDonnell MP, Labour’s Shadow Chancellor, responding to reports that the Government plans a further sell off of RBS shares at a loss to the taxpayer, said:

“There is no economic justification for a further sell-off of RBS shares and it beggars belief that this government is considering selling shares at an even bigger loss to the taxpayer than the £1 billion George Osborne managed.

“All further sales of RBS shares should be halted, and the bank reorganised under public control to help provide the patient, long-term investment capital that businesses across the country so urgently need. The next Labour government will deliver a banking system that works for the many, not the few.”