George Osborne announces plan to sell off Government stake in RBS

The Royal Bank of Scotland (RBS) was rescued with £45.5 billion of government funds during a financial crisis. The government plans to sell its stake in RBS, despite potential losses, to stabilize the economy. The process is expected to take years, with challenges in selling shares at a profit. New measures have been introduced to address misconduct in the finance industry. Relations between the finance industry and the government are tense, with HSBC considering moving its headquarters. The path to a government exit from the banking sector is becoming clearer.

What is the significance of the phrase 'the age of irresponsibility is over' in the context of the text?

How does the text describe the relationship between the banking industry and the Treasury?