Tories unveil public bank share plan

The Conservative Party could offer the public shares in state-owned banks if it comes to power at the next general election.

Speaking to the Sunday Times, shadow chancellor George Osborne explained that the move would be a reward to the public after their money was used to support financial institutions at the height of the financial crisis.

It could also offer an opportunity to those looking for ways to invest their private wealth.

’The bankers have had their bonuses. We want a people’s bank bonus for the people’s money that was put into these organisations,’ Mr Osborne was quoted as saying.

According to the news source, shares valued at between ’a few hundred and a few thousand pounds’ would be made available at a discount on the market price.

However, the move was criticised by business secretary Lord Mandelson, who told the BBC that it is ’a rather silly little gimmick’.

The Labour Party and the Conservatives have different policies on how they would deal with the public spending deficit, with the latter wanting to begin expenditure cuts immediately and the former planning to withhold them until 2011.ADNFCR-2318-ID-19628478-ADNFCR