Jeremy Hunt’s plan to sell shares in NatWest to the public through a blockbuster campaign — one intended to evoke memories of Margaret Thatcher’s privatisation programmes — has been abandoned because of the election on July 4.
The Treasury has confirmed for the first time that “a retail offer will not happen during the election period”, scuppering the chancellor’s intention to rejuvenate the public’s appetite for buying shares.
Labour has not stated its position on NatWest, nor indicated whether it would revive the plan should it take office.
Hunt gave the City a boost in November by saying he was exploring options for a retail offer of NatWest shares and wanted to “get Sid investing again” — a reference to the advertising campaign for the