So, do you want some free RBS shares?
So, do you want some free RBS shares?
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Discussion

Gizmo!

Original Poster:

18,150 posts

225 months

Thursday 23rd June 2011
quotequote all
http://uk.reuters.com/article/2011/06/23/uk-britai...
http://www.bbc.co.uk/news/uk-politics-13884271

Can't quite make up my mind on this. On the one hand, you could say that we've already paid for them. On the other hand, surely if you distribute a large number of the shares, it removes the opportunity for the Treasury to make a profit on its investment.

Giving them a floor price seems a bit strange too... especially if it "is estimated at 74p per share for Lloyds and 51p for RBS". Current prices: Lloyds 46p, RBS 37p. How would you stop people selling now and putting the government at a loss?

ringram

14,701 posts

264 months

Thursday 23rd June 2011
quotequote all
Treasury is irrelevant, they will create whatever money they want. As evidenced by the deficit.
In effect RBS and Lloyds shares were stolen from the taxpayer anyway, so its simply giving them back. Though they would be better off just giving everyone a tax cut, same effect. IMO bring the tax free allowance increase forward.

Treasury doesnt need to make any money back from anywhere, nor do they need tax receipt except to help manage the money supply and inflation.

matsmith

1,166 posts

225 months

Thursday 23rd June 2011
quotequote all
ringram said:
In effect RBS and Lloyds shares were stolen from the taxpayer anyway, so its simply giving them back.
confused

Could you please tell me how RBS and Lloyds shares were stolen from the tax payer?

ringram

14,701 posts

264 months

Thursday 23rd June 2011
quotequote all
Badly worded. Both of them should be dead, but were bailed out by the taxpayer, so in effect the shares are already owned by the tax payer. So for treasury to have them when its the tax payer who is paying means they are in the wrong hands. (ie) The money to bail them out/buy the shares has been stolen from the tax payer.


Gizmo!

Original Poster:

18,150 posts

225 months

Thursday 23rd June 2011
quotequote all
ringram said:
Badly worded. Both of them should be dead, but were bailed out by the taxpayer, so in effect the shares are already owned by the tax payer. So for treasury to have them when its the tax payer who is paying means they are in the wrong hands. (ie) The money to bail them out/buy the shares has been stolen from the tax payer.
In the same way as I own 14 bus stops, a section of the A1 near Newark, the River Taff (left bank) and a park bench? Don't be ridiculous. The people do not own what is owned by the Treasury. Those shares were bought from their owners.

Gargamel

15,601 posts

277 months

Thursday 23rd June 2011
quotequote all

I wonder if they will give them exclusively to taxpayers?

Perhaps on a sliding scale, y'know higher rate taxpayers get more shares as they have paid for more of the banks, that kind of thing.


Will they bks.....

ringram

14,701 posts

264 months

Friday 24th June 2011
quotequote all
Gizmo! said:
ringram said:
Badly worded. Both of them should be dead, but were bailed out by the taxpayer, so in effect the shares are already owned by the tax payer. So for treasury to have them when its the tax payer who is paying means they are in the wrong hands. (ie) The money to bail them out/buy the shares has been stolen from the tax payer.
In the same way as I own 14 bus stops, a section of the A1 near Newark, the River Taff (left bank) and a park bench? Don't be ridiculous. The people do not own what is owned by the Treasury. Those shares were bought from their owners.
What are you talking about? I never mentioned personal ownership of anything.

cuprabob

16,939 posts

230 months

Friday 24th June 2011
quotequote all
Typically they make things much more complicated than then need to be and the only people who will really make money from this scheme is brokers.

Why don't they, when they decide to sell the banks, take the profit made and decide ho much they want to keep and how much they want to give the taxpayer. Once this amount is agreed split it up and give all taxpayers a rebate...simples