Osborne plans £400 RBS share gift per taxpayer-reports

Chancellor George Osborne has ordered the Treasury to draw up plans for a mass give-away of RBS shares to taxpayers by the next election in 2015, according to reports.

According to the Independent, Osborne has decided that continued taxpayer ownership of the bank is politically "untenable", after a host of mis-selling scandals and rows over bankers' bonuses. Under one plan, every taxpayer or voter in Britain would be given shares in RBS that would be worth between £300-£400 at current prices. Another option would be for phased disposal or attempts to place the shares in the market. This would allow the public to invest their own money in the company but at a discount to the share price at the time. The paper suggests a hybrid scheme could also be de...