Letter of the Day: George Osborne’s RBS shares sell-off is no surprise

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Councillor Gerald Vernon-Jackson, from the Liberal Democrats.

Picture: Sarah Standing

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So, George Osborne has authorised the sell-off of the first tranche of RBS shares owned by the taxpayer at a knock-down price on the market.

Many people seem to be surprised that these shares have come on the market when the price was low and the smart money was on holding off a bit longer.

Hence a big loss to the taxpayer.

And people are surprised?

Mr Osborne needs to keep his friends in the money markets happy.

Making these shares available for them to buy at a low price is a way of paying them back for their support of the Tory party with big financial donations.

That’s his first priority.

If he’s not doing them favours why else would they finance his party?

And keep him in a job?

Moira Pemberton

Coates Way, Waterlooville

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