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Submitted by on June 20, 2013 – 9:32 am |

john cridland cbi -  RESPONDS TO CHANCELLOR’S MANSION HOUSE SPEECHThe CBI responded to the Chancellor’s speech at Mansion House tonight, outlining plans to return RBS and Lloyds to private ownership.

John Cridland, CBI Director-General, said:

“It’s in everyone’s interests, including business customers, to get Lloyds and RBS off the Government’s hands and back into private ownership.

“RBS is already well down the road of restructuring, so the case for a split into good and bad banks feels like groundhog day to me and I don’t see how it would help taxpayers in getting their money back.  A review creates a period of uncertainty when the focus should be on lending and growth, so it should be concluded swiftly with the Government acting decisively on its findings.

“With the share price in the ballpark of what the Government paid for it, Lloyds is approaching the point when it can return to private ownership on good terms for the taxpayer.’’

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