Osborne issued a statement in which he said: “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.”

He did not speak publicly, leaving Treasury minister Harriett Baldwin to try to explain the sale at a time when shares were at a low for the year.

I'm reminded of that Harrison Ford quote, "George, you can type this [LIFTED], but you can't say it!"

Has he sold it to his "big business" mates at a bargain price?