Ministers are to sell off huge chunks of the state-controlled banks, despite warnings that taxpayers could lose billions of pounds in any fire sale.
Alistair Darling says the break-up of Northern Rock, Royal Bank of Scotland and Lloyds Banking Group would improve competition and recoup public bail-out money. The Chancellor said the deal would create three high street banks focused on 'boring' traditional activities such as saving and lending. See story...
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