RBS and Lloyds 'need to be sold'

3 April 2012

Stakes in the Royal Bank of Scotland (RBS) and Lloyds need to be sold by the UK sooner rather than later, it has been claimed.

Speaking to Reuters, Emma Boon, campaign director at TaxPayers' Alliance - which has more than 65,000 supporters throughout the nation - noted the sales have to be made in order to prevent politicians from gambling on bank shares with money that belongs to the public.

Ms Boon said it is wrong for this cash to be spent on playing the stock market, as nobody knows what the future will bring and whether better or worse prices will be seen today or tomorrow.

She stated: "If we hold onto our shares in the banks, then that might turn a profit eventually, but the returns could just as easily not justify even the current price."

Taking risks with their money should be down to the taxpayer and not be the prerogative of those in power, Ms Boon added.

By Gary Cooper

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