Branch of RBS
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Osborne announces sale of government stake in RBS

Seven years after the financial crash, the government is to start selling off its stake in Royal Bank of Scotland, which was bailed out by the taxpayer.

The chancellor announced the plans in his annual speech at the Mansion House in the City of London.

George Osborne said the losses to the taxpayer would be more than offset by the profits on other sales.

The decision was supported by the governor of the Bank of England, who said the "age of irresponsibility" in the financial markets was over.

Kamal Ahmed reports.

  • 10 Jun 2015
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