Monday 4 June 2018 / 5:54 PM John McDonnell / Privatisation

Further RBS sell-off unjustified

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 this sell-off of RBS shares. There should be no sales of RBS shares, full-stop. But because of this government’s obsession with privatisation, the taxpayers who bailed out the bank will now incur an enormous loss. 

“Taxpayers are paying the price for the Tories’ mismanagement of RBS over the past eight years. The next Labour government will deliver a banking system that works for the many, not the few.”