• From The BBC:

    The body set up to manage taxpayers’ stakes in nationalised banks has said it will be “challenging” to sell the stakes held by taxpayers.UK Financial Investments (UKFI) was set up to manage taxpayers’ shareholdings in Royal Bank of Scotland and Lloyds after they had to be rescued. It said the market value of UKFI’s investments in the banks was now £65bn. When everything is taken into account every UK household will have more than £3,000 invested in the banks said UKFI. But if UKFI sold the shares now it would make a loss of £10.9bn, it said.
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    That loss, due to the fall in the value of the banks shares and investments, is less than the £18.1bn shortfall registered in February. UKFI said: “Our own task of returning these investments to the private sector is challenging. “The amounts involved are very large, and a successful disposal of our holdings will require professionalism and patience. “We all h…

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    Posted by Jon @ 5:06 pm

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