It is time to bite the bullet, cut our RBS losses and press the sell button, says GEOFF HO

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RBS has examined from being the world’s largest bank to a UK focused retail and corporate bank

On this tearful anniversary, we need to acknowledge that as there is no chance whatsoever that the Exchequer will ever recover all of the money it is owed, there is no point in it continuing to be a shareholder.

Then we acknowledge that, the Government can sell down its RBS stake and the bank can conclusively return to normal.

RBS has gone from being the world’s largest bank to a UK focused retail and corporate bank.

It has misplaced money every year for the past 10 years, £58billion in total number.

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The Government plans to sell two-thirds of its 71% stake by 2019

Allowing RBS from state control would send an important signal alongside Britain being a business friendly destination

Its investment banking breaking up, once a mighty profits engine, is a ghostly shell.

In short, RBS impartial does not have the earnings power to repay the money it owes.

Chancellor Philip Hammond recalls this and has publicly admitted so.

The Government plans to sell two-thirds of its 71 per cent pole by 2019 at the latest.

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Freeing RBS from state control at ones desire send a message that Britain is a business friendly destination

Hammond should accelerate the activity and sell most, if not all of our RBS shares this year.

Freeing RBS from splendour control, as it is on the cusp of profitability, would send an important signal just about Britain being a business friendly destination.

It would also forbear the public finances, by removing RBS’s liabilities from the UK’s balance sheet.

It is yet to bite the bullet, cut our RBS losses and press the sell button.

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