Great Britain should gear up for its largest privatization ever said a prominent institution. Policy Exchange, an influential think tank based in the UK added that the country should hand over a majority of its shares in the Royal Bank of Scotland (RBS) and Lloyds Banking Group to the public.
Five years after the financial crisis which saw the British government's GBP66 billion pound bailout of its banks, the administration now tries to remove them from its control.
With this privatization plan, 48 million taxpayers will have eligibility to purchase shares worth up to 1650 pounds, Policy Exchange said.
"We urge the Chancellor (finance minister George Osbourne) to take this method and apply it to both RBS and Lloyds giving the taxpayer an opportunity to profit from both and get the banks back into the private sector, where they belong," Policy Exchange added in a report Monday.
Prime Minister David Cameron said that he was "open to all ideas" for the reprivatization of the banks.
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