Peter Bone
Main Page: Peter Bone (Independent - Wellingborough)Department Debates - View all Peter Bone's debates with the HM Treasury
(10 years, 11 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Sajid Javid
As I have said, such decisions are for the board of RBS, which is a commercial organisation. As we all know, however, because it is a commercial organisation in which the state is the majority shareholder, with the state’s interests represented through UKFI, when RBS makes a major decision it will inform the Government.
Mr Peter Bone (Wellingborough) (Con)
May I pursue the question asked by the hon. Member for Halton (Derek Twigg)? I am not entirely sure why the Minister made his statement. If this was a completely independent decision, what new Government policy has been announced today?
Sajid Javid
The Government decided that a statement should be made today because the issue is important to the population at large. Given the Government’s stake of over 80% in RBS, and given that the last Government pumped in £45 billion, I think it important for the Government to set out their strategy on RBS.