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Taxpayers Could Lose From RBS, Lloyds Breakup
Breaking up Royal Bank of Scotland and Lloyds Banking Group could be costly for taxpayers, according to Robin Budenberg, ceo of UK Financial Investments, which was created to sell government stakes in banks, reports Financial Times.
Breaking up Royal Bank of Scotland and Lloyds Banking Group could be costly for taxpayers, according to Robin Budenberg, ceo of UK Financial Investments, which was created to sell government stakes in banks. Budenberg’s comments before a parliamentary committee were in contrast of those by Keith Morgan, who is in charge of government interests in Bradford & Bingley, said taxpayers are likely to see an eventual profit of more than £1 billion ($158.4 billion) from its investment in the troubled lender. The UFKI wants to wait until the stock market is less volatile before selling stakes.