UK taxpayer could lose $28.5bn if RBS sell-off goes ahead

George Osborne Concerned

UK taxpayers could lose more than $28.5bn if George Osborne presses ahead with the sale of the Government's remaining stake in Royal Bank of Scotland (RBS), according to an official forecast published on Wednesday.

Sky News reports that an analysis of figures published by the Office for Budget Responsibility (OBR) suggests that the Treasury could recoup a total of just $33.7bn from the disposal of its RBS stake, barely half the $64.9bn injected into the bank to prevent its collapse in 2008.

In its Economic and Fiscal Outlook released to coincide with the Chancellor's Budget statement, the OBR said it expected "proceeds [from RBS] to total $30.7bn between 2016-17 and 2019-20, with nothing in 2020-21".

A $3bn stake in the lender was sold last August, but its crystallisation of a $1.43bn loss for taxpayers has prompted demands for an inquiry.

To access the complete Sky News article hit the link below:

Taxpayers Face £20bn Loss On RBS Share Sales

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