Phi Wire Hand Picked Politics - Live

  • Eye Spy MP | Peter Bone at Toddington services with his royal blue jumper on inside out.

    • source icon
    • 20:02
  • Dan Hodges | Ed Milband’s new guru David Axelrod has to persuade the voters to be totally ill...

    • source icon
    • 19:59
  • How will Tony Banks,Chair of Business for Independence,explain to the Scottish C...

    • source icon
    • 19:33
  • Gary Younge | On race, the US is not as improved as some would have us believe

    • source icon
    • 19:30
  • Owen Jones | What Alan Carr taught me about gay men's prejudice

    • source icon
    • 18:47
  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

Story Tracker

Select Story:

No 10 and Chancellor back RBS

No 10 and Chancellor back RBS
Downing Street and George Osborne have backed RBS despite the bank reporting a pre-tax loss of £5.16bn for 2012.

The loss posted today by RBS follows a series of huge fines over the Libor scandal and mis-selling PPI and interest rate swaps. However, stripping out one-off payments, the bank actually posted a profit of £3.5bn.

In a statement, George Osborne today insisted RBS was now a "stronger and safer bank".

Downing Street also defended the bank after it paid out more than £600m in bonuses.

The Prime Minister's Official Spokesman said: "Bonuses are very significantly down from 2010... RBS is heading in the right direction." He added that there had been "clear signs of restraint and responsibility" from the bank.

The spokesman refused to be drawn on whether the Government would sell its shares in the near future, after top executives at RBS this morning played up the possibility.

Chief executive Stephen Hester said privatisation was now "a light coming down the tunnel much closer to us and within reach within not too distant a period".

Chairman Philip Hampton said it "would be nice to think that that [privatisation] could be done by 2014".

But the Prime Minister's Official Spokesman insisted: "There is no timetable for the disposal of the Government's shareholding in RBS."

Green Box: No 10 and Chancellor back RBSClick to open

+ Expand all - Collapse all

Recommended External Links

Full access for £22 a month...

PoliticsHome PRO Find out more