Commenting on the news that the government is going to sell another tranche of shares in RBS, James Price, Campaign Manager at the TaxPayers' Alliance, said:
"The state has no business permanently owning shares in a bank, regardless of the current share price. Arguments for keeping these shares in public ownership are wheeled out by advocates of a big state regardless of whether the share price goes up or down. This was never an ‘investment’ but an emergency recapitalisation plan made during the financial crisis.
The simple fact is that if politicians think they are such a good bet, they should buy the shares with their own money, rather than using taxpayers’ cash to grow the size of government. The remaining shares should also be sold as quickly as practically possible, so that bankers assume the risk, not the general public."
TPA spokesmen are available for live and pre-recorded broadcast interviews via 07795 084 113 (no texts)
Campaign Manager, TaxPayers' Alliance
24-hour media hotline: 07795 084 113 (no texts)