UK govt abandons NatWest share sale; to hold Budget Oct 30

(Sharecast News) - The UK government has abandoned a plan to sell its remaining stake in NatWest Bank to the public, said Finance Minister Rachel Reeves, who added that she would hold deliver a Budget statement on October 30.

In her first statement to parliament since the Labour Party's crushing General Election win, Reeves told the House of Commons that a share sale would not be value for money.

The previous Conservative government offloaded more shares earlier this month, taking its holding to 19.97%.

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