Thursday, Feb 26, 2009
RBS Gets £13bn, State ownership increases to 84%
Sky News: Darling: 'Taxpayers Will Benefit From RBS'
Chancellor Alistair Darling says taxpayers will benefit from the money the Government has injected into RBS.
It has been revealed the Government is inject an additional £13bn into RBS.
"We have decided that injecting the capital will be done by purchasing non-voting shares,"the Chancellor told MPs.
"This means that the Government could control 84% in economic terms, but the institution will remain as a publicly-quoted company.
"This will provide potential gains in the long-term for the taxpayer, and a return to full commercial ownership when the shares are sold and the proceeds come back to the taxpayer."
"The challenge today is to provide certainty against the background of a sharply deteriorating global economy," he added.
Posted by 51ck-6-51x @ 12:21 PM (377 views) Add Comment
4 Comments
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1. quiet guy said...
http://www.dilbert.com/2009-02-26/
2. Johnhawkwood said...
The only benefit the tax payer will get from the whole RBS debacle is the fact that Fred Goodwin will be able to embark on his own one man recovery programme for the UK by spending his annual pension on cars, houses and holidays. Brilliant work Darling you really are the Mr Bean of Financial Managment.
3. Caffeine said...
Sure, the British taxpayer will benefit. That's why we're paying Shred £690,000/year for life. Here Fred, take this massive pension pot for being a £24 billion loser.
4. The Baldman said...
The taxpayer is going to benefit from buying this c**p bank. Please we are not stupid.