Osborne: Sell, Sell, Sell
The Chancellor has begun the privatisation of RBS with a £2.1 billion sale of shares. The bank received a £45 billion bailout of public money from Gordon Brown in 2008 making the state the majority shareholder. Now Mr Osborne is selling shares at 330p, a 2.5% discount.
A Treasury spokesman has told Sky News “In his Mansion House speech in June this year, the Chancellor announced his intention to start returning RBS to the private sector in the coming months, following advice from the Governor of the Bank of England.”
This has restarted the debate of whether privatisation is liberating the people or underselling the tax payer. George Osborne believes “now is the time for RBS to rebuild itself as a commercial bank, no longer reliant on the state, but serving the working people of Britain."
Meanwhile the Mirror leads with ‘George Osborne is planning a bigger programme of privatisation than Margaret Thatcher.’ Good …
TODAY AT CWF
Oliver Cooper: Labour should be winning by a landslide in London - they're not – Since May, you’d be forgiven for thinking that polling is the last refuge of the scoundrel. I’ve always subscribed to the school that there are “Lies, damned lies, and statistics” only if you don’t understand statistics. But when it comes to the latest London mayoral poll – which shows Labour just 7% ahead – I wonder if there’s more than meets the eye.
Watch – the BBC has composed a video ‘remembering Les Munro, the last Dambuster pilot’. Les Munro has sadly died aged ninety six in New Zealand. God bless you Les and all those who took part in the raid …
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2) Corbyn could become PM – says a former Tory Chancellor – The Sun Nation
4) Do you really need a Political Director? – Campaigns and Elections
FROM THE ARCHIVES
On this day, 4th August, in 1704 Great Britain captured Gibraltar with the aid of the Dutch as part of the Wars of Spanish Succession. Three hundred and eleven years later the people of Gibraltar, who want to remain British, are still under threat from a petulant Spanish government. Long may democracy triumph …