Successfull form submission tick

Thanks for your details!

One of our legal specialists will review your details and call you back within 24 hours to discuss this further.

Alternatively to speak to a specialist
for FREE call us now on 0800 888 6888

Successfull form submission tick

Thanks for your feedback!

We take all of our feedback seriously so we can learn what we're doing right, wrong and how we can improve.

If you would like to speak to us regarding your feedback please email us at compliance@hampsonhughes.com

Chancellor sells RBS shares at loss

Chancellor George Osborne has announced the sale of a 5.4 % government stake in the Royal Bank of Scotland as the first step towards its re-privatisation. The transaction has raised £2.1 billion, which the treasury says it will use to reduce the national debt.

Seven years ago, during the height of the financial crisis, the British government bailed RBS out by purchasing 78% of it. The recent sale brings the government’s stake down to 73.2%. The UK treasury views the sale as a positive action, with the chancellor issuing the following statement on the morning of Tuesday 4th August 2015:

“This is an important first step in returning the bank to private ownership, which is the right thing to do for the taxpayer and for British businesses: it will promote financial stability, lead to a more competitive banking sector, and support the interests of the wider economy.

“Now is the time for RBS to rebuild itself as a commercial bank, no longer reliant on the state, but serving the working people of Britain.”

However, onlookers have questioned the deal. The price paid for each share on average during the bailout was 502p, but for the 630 million shares sold this time the price was, on average, just 330p. This has led shadow chancellor Chris Leslie to describe the selloff as a ‘fire sale.’

There has been criticism from the City of London too, with banking analyst Ian Gordon stating he was ‘perplexed’ by the timing of the sale.

“Last night’s disposal at 330p achieved a new 2015 low
and arguably sold the taxpayer short”

The overall loss to the treasury is £1.1 billion. Although beginning the process of re- privatisation is thought of by many as a way of bringing strength and stability to the bank, the bank has thus far struggled to make a profit – declaring a loss of £153 million for the first half of 2015.

Part of the reason for this is the cost of compensating mis-sold PPI – £459m in the second quarter of 2015 alone.

If you think you have been mis-sold PPI, or if you have concerns about another financial product, our Financial Miss-Selling Department is here to help. For further information and specialist advice, call Hampson Hughes Solicitors on 0800 888 6888 or email claims@hampsonhughes.com

Why use Hampson Hughes

At Hampson Hughes Solicitors we believe that if you have been injured in an accident that wasn’t your fault you deserve access to legal support. Our objective is to ensure we recover the maximum amount of personal injury compensation you deserve. We can help secure access to expert rehabilitation services to ensure that you have the quickest recovery possible. We can ensure you are compensated for any losses you may have suffered, from out of pocket expenses to loss of enjoyment and loss of earnings as a result of your personal injury.

Free Advice

We offer a free legal consultation
to every potential client

No Win No Fee

Many of our claims are offered on
No Win No Fee payment terms

Check your claim

Our free compensation calculator
allows you to check your claim estimate

Claim Process

Each case will have its own individual elements to consider, but the general process for pursuing a compensation claim with Hampson Hughes involves the following steps.

Our 6 steps
to justice

1

Initial Enquiry

Once you get in touch, we can offer you a free consultation with the relevant specialist solicitor for your case.

2

Case Acceptance

Should we advise your claim is worth pursuing, and you choose our services, we will begin claim preparation.

3

Medical Records

We will help you to access and obtain all of the required medical evidence in support of your compensation claim.

4

Negotiation

Once we have submitted the claim to the defendant, we can begin negotiations on reaching a settlement.

5

Court Proceedings

Should no settlement be reached, your claim will proceed to court with a view to obtaining a favourable settlement.

6

Outcome

Should your claim be successful and compensation be awarded, you should receive it within 14-28 days.

Start Your
Claim Now!

Get In Touch

Take the 30 Second Claim Test

Find out if you qualify to make a
No Win No Fee claim for injury compensation.

Hampson Hughes Stats

We’ve established a great track record in our industry having helped many clients with their personal injury or medical negligence claims. Here are some of the key numbers that tell our story so far.

9/10

of our clients were
completely satisfied

9/10

of our clients would
use us again

9/10

of our clients would
recommend our services

50M

in compensation
won for our clients

Take the 30 Second Claim Test

Find out if you qualify to make a No Win No Fee claim for injury compensation:

Check online | Instant answer | Know where you stand

Try The Test
Screenshot of the Claim Test used to check if you have a claim
Call us FREE on
0800 888 6888
or request a call back
contact us