Oral Answers to Questions

Geoffrey Robinson Excerpts

Wednesday 3rd July 2013 Commons Chamber

[The Prime Minister]

My hon. Friend is absolutely right: we have got a good deal on the common agricultural policy. We need to listen carefully to our farmers’ concerns so that they are not disadvantaged compared with other countries. We also need to take the time to introduce the new system, because when the single farm payments were introduced so quickly under the last system we suffered large fines from Europe as a result. My hon. Friend is being extremely wise on this issue.

[Mr Geoffrey Robinson (Coventry North West) (Lab)]

Q6. Is the Prime Minister aware of the rather disturbing commitment given yesterday by his Chancellor to continue to interfere and intervene in the affairs of the Royal Bank of Scotland on behalf of the taxpayer? Is he also aware that the Chancellor’s last intervention—the completely irresponsible ousting of Stephen Hester—has cost the British taxpayer £4.5 billion so far as a result of the loss in value of their shareholding? Will the Prime Minister, as First Lord of the Treasury, instruct his Chancellor to desist from any such interventions in the future?

[The Prime Minister]

What I would say to the hon. Gentleman, who I know has great experience of lending money, is that it is important that the Government stand up for the taxpayer and ensure that Royal Bank of Scotland has the right strategy and the right leadership so that we get back the money that was put into the banks by the last Government.