Ritchie criticises Chancellor’s failure to consult RBS on sell-off | Latest Newry News, Newry Sport and Newry Business for Newry City

Ritchie criticises Chancellor’s failure to consult RBS on sell-off

SDLP South Down MP Margaret Ritchie has criticised Chancellor George Osborne for his failure to consult the Royal Bank of Scotland (RBS) about the sell-off of the Government’s stake in RBS.

Margaret RitchieAn answer provided by Minister Harriet Baldwin to a question tabled by Ritchie revealed that the Chancellor “did not discuss” the sell-off with RBS, Natwest or Ulster Bank.

Ritchie said, “Following the Treasury’s announcement that the Government’s stake in RBS will be sold off at a loss of more than £7 billion to taxpayers, I questioned the Chancellor to determine how he came to this decision.

“My first query was a simple question about the discussions he held with RBS, NatWest and Ulster Bank regarding the sell-off. The fact that the Chancellor held no such discussions is completely unacceptable.

“This displays a total disregard for the Treasury’s relations with the banks’ customers and investors. The Chancellor risks prioritising fulfilling the Tory policy of privatisation over the interests of RBS customers. I will continue to pursue this matter with the Treasury,” she added.

Short URL: https://newrytimes.com/?p=51480

Posted by on Jun 18 2015. Filed under Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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