Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what provision his Department has made in the sales prospectus for RBS shares for the cost of litigation (a) that has commenced and (b) that complainants have given notice of their plans to commence in respect of interest rate swap mis-selling.

As detailed by the Chancellor in his speech to the Mansion House, the Government has decided to begin a sale of its shares in Royal Bank of Scotland (RBS).

The Government’s shareholding in RBS is managed at arm’s length from HM Treasury by UK Financial Investments (UKFI). UKFI will be responsible for the design and execution of any future sale.

Provision for the potential impact of regulatory fines or penalties is regularly published by RBS as part of the bank’s accounts process. This information is available to any prospective investor.