The Government is considering selling shares in NatWest to the general public in the coming year as it moves to offload its stake in the British bank, Chancellor Jeremy Hunt has announced.

Mr Hunt unveiled the plans in his autumn statement delivered to the House of Commons on Wednesday afternoon.

The retail offer would form part of efforts to reduce the Government’s – and therefore taxpayers’ – stake in the bank, and mean everyday retail investors get the chance to buy a chunk.

The Government currently owns a 38.69% stake in the lender after selling £1.26 billion worth of shares back to the firm in May, taking it down from around 41%.

It has been gradually whittling down its shareholding following its near £46 billion bailout of Royal Bank of Scotland during the 2008 financial crisis.

It rebranded to NatWest Group in 2020 under the leadership of former chief executive Alison Rose.

The Government wants to fully hand over its shareholding in the group by 2025 to 2026, subject to supportive market conditions and if sales offer value for money, it said.

The move is also being presented as a way to get more people saving and investing.

Mr Hunt told the Commons that it was “time to get Sid investing again”.

The remark refers to the “Tell Sid” advertising campaign in the 1980s, encouraging people to buy shares in state-owned businesses including British Gas under Prime Minister Margaret Thatcher’s privatisation drive.

Furthermore, the Treasury said that “savers should be able to invest in the banks they use day to day.”

A spokeswoman for NatWest said: “Any decisions around share sales are a matter for the Government.

“We welcome the Government’s continued commitment to returning NatWest Group to private ownership and believe this is in the best interests of the bank and our shareholders.”

NatWest’s share price was down by more than 1% following the announcement.