Investors 'should not be excluded from bank asset sales'

Those wanting to use their personal wealth to invest in government-run banks should not be ignored when the sale occurs.

This is according to chief executive of Interactive Investor Tomas Carruthers, who was commenting following yesterday’s Budget announcement that the government intends to sell its stakes in Lloyds Banking Group, Northern Rock and Royal Bank of Scotland.

Noting that many private investors had stakes in banks such as HBOS and Bradford and Bingley, he said it is important they are given the same access to the sale as City institutions.

Citing recent Office for National Statistics data showing shares held by individuals has fallen recently, Mr Carruthers added the sale of government assets ’presents a real opportunity to reverse this decline’.

’It is in the public interest that private individuals should have the … opportunity to participate,’ he concluded.

The government took the first step to restoring Northern Rock to commercial strength last month, when it announced it will be lifting its guarantee for rental deposits at the close of trading on May 24th.ADNFCR-2318-ID-19688971-ADNFCR