UK PM wants taxpayer to get money back on RBS

14 June 2013

UK prime minister David Cameron seemingly played down the chances of selling off the Royal Bank of Scotland (RBS) on Thursday (13 June).

Speaking to Bloomberg, Mr Cameron said he believes taxpayers are more interested in getting their money back than seeing the bank returning to the private sector quickly.

He said the bank is still healing from the financial crisis and that it would take time for it to make a full recovery.

Mr Cameron has two main concerns with the company's return to the private sector.

"One is we must make sure this bank contributes to the recovery of the UK economy. Secondly, people put their money in. I want them to get their money out," he said.

RBS has appointed Anna Mann to find suitable candidates to replace the departing Stephen Hester.

The bank, which is 81 per cent owned by the UK taxpayer, believes it could begin its return to the private sector in 2014.

By Claire Archer

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