Ian Blackford – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Ian Blackford on 2016-02-29.

To ask Mr Chancellor of the Exchequer, if he will make an assessment of the implications for his policies on reducing the Government’s stake in the Royal Bank of Scotland (RBS) of the (a) decision to defer the redemption of dividend payment by and (b) recent changes in the share price of that bank.

Harriett Baldwin

The Government has consistently said that disposing of our stake in RBS is the right thing to do for the taxpayer and the British economy. Returning RBS to private ownership will promote financial stability, a more competitive banking sector, and the interests of the wider economy.

The first sale of government shares in RBS was conducted in August 2015, and raised £2.1 billion for the taxpayer. The government will continue to return RBS to private ownership and conduct further sales of RBS shares, subject to market conditions.