UK Politics

Conservative Party: A people's bank bonus: building a savings society

News   •   Feb 22, 2010 08:25 GMT

George Osborne has unveiled Conservative plans for a 'people's bank bonus', where everybody in the country would have a chance to buy a stake in the state-owned banks when they come to be sold off.

In return for taxpayers' support for the banks, everyone would have the chance to buy shares in the state owned banks at a discounted price.

Special offers would encourage younger people and those on modest incomes, who have suffered the most from Gordon Brown's attack on our saving culture, to start saving for the future in a way that is suitable for them.

George described the proposals as providing a "golden opportunity" to start building a savings society so that more people have a stake in the future of our economy, and he added:

"Taxpayers bailed out the banks, so they deserve a 'people's bank bonus' when the time comes to sell the government shares."