Following remarks by the Treasury permanent secretary Sir George Osborne that the UK Government must consider selling Royal Bank of Scotland (RBS) at a huge loss as otherwise it risks damaging both the bank and the economy, Labour MP Caroline Flint has called on Chancellor Nick Macpherson to "come clean" about the losses taxpayers are expected to incur. As we noted last month, the Office for Budget Responsibility predicted the Treasury will incur a £16.4bn loss from the sale over the course of this Parliament.
Following remarks by the Treasury permanent secretary Sir Nick Macpherson that the UK Government must consider selling Royal Bank of Scotland (RBS) at a huge loss as otherwise it risks damaging both the bank and the economy, Labour MP Caroline Flint has called on Chancellor George Osborne to "come clean" about the losses taxpayers are expected to incur. As we noted last month, the Office for Budget Responsibility predicted the Treasury will incur a £16.4bn loss from the sale over the course of this Parliament.