Susan Elan Jones – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Susan Elan Jones on 2014-06-05.

To ask Mr Chancellor of the Exchequer, what steps he is taking to ensure that Natwest and other subsidiaries of RBS remain as competitive as possible in the banking sector.

Andrea Leadsom

On 1 November 2013, RBS committed to a new direction, focussing on its core British business, supporting British families and companies. RBS’s new direction is supported wholeheartedly by the Bank of England, UKFI and the Government.

RBS and its subsidiaries retain their own independent boards and management teams for strategic and operational decision-making.

The Government’s shareholding in the Royal Bank of Scotland (RBS) is managed on a commercial and arm’s length basis by UK Financial Investments Ltd (UKFI).