Britain could re-privatize the nationalized banks
In 2007 and 2008 the British government had to nationalize some financial institutions, saving them from collapse. After stabilizing the situation in the global banking system, among politicians and economists began to talk about the need to state share sale to private investors.
Given the fact that the realization of these assets in the future may bring up to 71.5 billion pounds (116 billion dollars), the idea is becoming more attractive. However, its implementation would require at least several years, experts say.
proceeds of sale from the sale of government stake in such financial institutions as the Royal Bank of Scotland (RBS), Lloyds Banking Group, Northern Rock, will exceed revenues from the sale gosaktivov, arranged for the 1980 Prime Minister Margaret Thatcher. Then the Treasury has received from the sale of British Airways, British Gas and other companies about 65 billion pounds.
During the current financial crisis, the British government spent to rescue the banking system, 120 billion pounds. Some of them went directly to the redemption of bank assets. Thus, the stakes in RBS (now 84% owned by the state) and Lloyds Banking (43%) had cost the Government in the 66 billion pounds.
sale of state assets in 1980 were engaged conservatives. It is possible that they will have to repeat that number again. The fact is that during the current crisis, the UK banking system from collapse was saved by the Labor government, but in the upcoming parliamentary elections in June, their chances of losing its traditional political opponents rather high.
According to the expert at the London School of Economics Tom Kirhmayera, practice shows that governments are usually the poor owners of banks.
“Private owners cope with this task much better - this fact is the basis for such plans - said Kirhmayer - However, I do not think there is an urgent need to sell from a financial point of view.”
remains to add that at present the current price of shares of British banks is lower than the value at the time of entering the state in their capital. Immediate sale of government shares would have brought the treasury loss of $ 21.9 billion pounds.
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