Belfast Telegraph

Tories short-changed taxpayers with sale of bailed-out banks, McDonnell says

Labour has accused the Tories of "short-changing" taxpayers on bailed-out bank sell-offs.

Shadow chancellor John McDonnell expressed concern over reports in the Financial Times that RBS assets may have been potentially undersold by £15 billion.

Mr McDonnell said: "This raises further serious questions over the Tories' ability to get value for money for the taxpayer.

"Their promotion of a 'sell first, think later' approach to the custodianship of state assets has meant that the public are constantly short-changed.

"It is beyond irresponsible for the Government to allow public assets to be sold far below their real value.

"For example, if they had got value for money for the public purse, then the Government could have had more money to reinvest in our infrastructure or not go ahead with a pay freeze for nurses, teachers, soldiers and other key public sector workers."

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