In a bid to reduce the cost to taxpayers of the bank bailout plan, the Treasury is considering offering shares to City investors, The Times reports. It is being decided by Treasury officials whether financial institutions should be given access to the £9bn of shares that the government is buying in its £37bn bailout of Royal Bank of Scotland, HBOS and Lloyds TSB. The concept will allow City fund managers to buy some of the 12% a year preference shares in the hope that they will be encouraged to purchase further ordinary shares in the three flailing banks. A Treasury spokesman said yesterday that more options are being looked into: 'It's one of many options that we are looking at. It will be up to ministers to decide.'