Royal Bank of Scotland

Stewart Hosie Excerpts

Thursday 13th June 2013 Commons Chamber

[Sajid Javid]

My hon. Friend is right to emphasise the absolute importance of getting the best value for the taxpayer when RBS is eventually returned to the private sector. There are many ways of doing that, and there is an open public debate on the ideas. At this point, however, it is right for me to say that while I welcome open debate, the Government are looking at the options very carefully, and we will set out a way forward after the Parliamentary Commission on Banking Standards has issued its final report.

[Stewart Hosie (Dundee East) (SNP)]

I thank the Minister for his statement and for early sight of it, and add my thanks to those of others for what Stephen Hester has done so far for the bank. RBS is planning a £175 million investment in the retail bank in Scotland and it also plans to maintain it as a global centre for mobile banking and a global payments hub. When Stephen Hester is replaced and the bank is finally returned to the private sector, will the Minister use whatever influence the Government have to ensure that those investments and those plans are maintained for the sake of jobs both in the bank and in those businesses that depend on the bank for support?