Responding to RBS’ 2018 Q3 results which saw a 14% rise in pre-tax profits, Fran Boait, executive director of Positive Money said:
“Another boost in profits is another reminder of the cost of the RBS sell-off. The government selling off its majority stake at a loss soon after the bank turns profitable would be another farcical twist in the bailout story, which has seen the taxpayer underwrite a decade of reckless behaviour, scandals and investigations.
“It’s in the public interest for the government to stop the RBS sell-off. Keeping the bank under public ownership would avoid the taxpayer losing out on billions of pounds as well as giving the government more power to encourage better banking.”
About Positive Money
Positive Money campaigns for a money and banking system which supports a fair, democratic and sustainable economy. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of over 65,000 supporters.