Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he had with UK Financial Investments before the decision on 1 December 2017 by RBS Group to close 259 RBS and Nat West branches.
Government ministers regularly meet with a wide range of organisations from the public and private sectors to discuss policy issues.
The Government’s shareholding in RBS is managed commercially and at arm’s length by UK Financial Investments (UKFI), with the objective of creating and protecting value for the taxpayer.
UKFI meets regularly with RBS with the engagement focused on ensuring that RBS’s business strategies, performance, governance, and risk-management are aligned to deliver sustainable value for the taxpayer.
RBS retains its own board which is responsible for commercial and operational decisions, including in relation to its branch network.