I made it clear when I made my announcement in the middle of last month that even the banks in which we are taking significant shareholdings need to operate in a commercial manner. They will operate at arm's length from the Government. All directors have one duty, and that is to represent the interests of their shareholders; of course, the Government, on behalf of the taxpayer, will be a major shareholder in three of the banks. No doubt we will explore the issue further when I appear before the Treasury Committee, of which the hon. Gentleman is a member, on Monday afternoon.
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