Shares in taxpayer-owned banks Lloyds and Royal Bank of Scotland could be sold to taxpayers at a discounted price if the Conservatives come into power.

Shadow chancellor George Osborne revealed the plans yesterday, dubbing it a ‘people’s bank bonus’, and claiming that everybody in the country would have the chance to buy shares in the state-owned banks when they came to be sold off.

The plans would encourage younger people and those on modest incomes, “to start saving for the future in a way that is suitable for them,” Mr Osborne claims.

Commenting, he said: “Taxpayers bailed out the banks, so they deserve a ‘people’s bank bonus’ when the time comes to sell the Government shares.”

Meanwhile, as banking season continues, Eric Daniels, chief executive at Lloyds Banking Group has come under pressure to give up his bonus, after Stephen Hester, chief executive at RBS rejected his own £1.6billion.

© Fair Investment Company Ltd