RBS must use profits to help struggling businesses - Williams (North Bedfordshire Liberal Democrats)

North Bedfordshire Liberal Democrats <bedford@bedfordlibdems.org>

RBS must use profits to help struggling businesses - Williams

August 10, 2010 1:34 PM

Tax payers must see a benefit to ownership of RBS and help for struggling businesses is a priority

Commenting on the £1.1bn pre-tax half year profits announced by Royal Bank of Scotland (RBS) today, Co-Chair of the Liberal Democrat Treasury Policy Committee, Stephen Williams said:

"RBS is almost entirely owned by the taxpayer, so these huge profits must be used for the national interest and not just to pay massive bonuses to senior staff.

"There is no excuse for RBS not to loan to good British companies that are struggling to get credit. We cannot simply allow banks to go back to business as usual while viable British firms are suffering."