George Osborne has announced the sale of the government stake in RBS at a loss for the taxpayer today.
Speaking from the Mansion House dinner, Osborne said 'This is good for the British economy.'
'At the moment we own far too much of the bank. If we sell it now we get £32bn back and that's a lot of money.'
'I know Labour bought that stake for £47bn and so it would be a loss. Bit we need the cash.'
'It's a really good deal for the taxpayers. I say the tax payers, I mean four or five of my school friends who were in the Bullingdon Club with me who want to buy it.'
'It's a good deal for them. And they are taxpayers. Well, they pay a bit of tax. Occasionally. On petrol. And then claim it back in tax free expenses.'
'I'm sure it will benefit the economy somehow. Bye then!'