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UK taxpayers sitting on £17 billion bank stake losses

Results from Royal Bank of Scotland and Lloyds bank may have been slightly better than many analysts had been expecting this week but UK taxpayers are still sitting on a £17 billion loss. The government was forced to invest an enormous amount of UK taxpayer's money into shares in Royal Bank of Scotland and Lloyds bank after two banking giants were reduced to mere shadows of their former selves. Will UK taxpayers ever make a profit on these stakes?

The truth is that the UK government had hoped to sell on the stakes in Royal Bank of Scotland and Lloyds bank sooner rather than later and at a profit for UK taxpayers. However, the shares in both companies have fallen so far that the £17 billion paper loss is likely to scupper any short-term plans for selling the stakes. Interestingly there is a growing belief that if the UK economy moves into growth mode over the next couple of years then we could actually see taxpayer's exiting at some point with a profit.

The Conservative party has already released plans to offer discounted shares to UK investors if it gains office at the next election.

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