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Common sense – unlikely to prevail

According to recent murmurings, the shares in state owned banks should be handed out to taxpayers. The Centre for Policy Studies has suggested that the best way to maximise taxpayer value in Lloyds Banking Group and the Royal Bank of Scotland is to give them shares, in what it calls a ‘univeral privatisation’ ,  creating windfalls of between £500 and £1,000.

It reckons that this would restore popular support in the banks (did they have any?) and would ensure best value for the Treasury.

It sounds like a good idea, based on common sense, just like it would be a good idea and common sense to have a referendum on whether our country should get out of the EU.  You might not want to hold your breath on either count.

As for restoring popular support in the banks I can assure the CPS that there is a much chance of that as there is for a lottery win. It is trust and not popularity that is the issue here.

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