LONDON, April 9 Britain's finance minister said
an agreement for part-nationalised Royal Bank of Scotland
to cancel a government-owned share that stops it paying
dividends would help taxpayers to get their money back.
RBS was rescued through a 45.5 billion pound ($76.21
billion) government bailout during the 2008/9 financial crisis,
leaving taxpayers holding an 81 percent stake in the bank.
European regulators on Wednesday agreed a proposal that
would see RBS buy itself out of the dividend access share, which
gives the state priority over dividends and has been seen as a
major obstacle to full privatisation.
"This is another important step on the road to a more
resilient banking system and in dealing with the problems of the
past to get taxpayer's money back," Chancellor George Osborne
said in a statement on Wednesday.
($1 = 0.5971 British Pounds)
(Reporting by Matt Scuffham; Editing by Simon Jessop)