Topical Questions

Part of Oral Answers to Questions — Business, Innovation and Skills – in the House of Commons at 9:30 am on 5th December 2013.

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Photo of Chuka Umunna Chuka Umunna Shadow Secretary of State for Business, Innovation and Skills 9:30 am, 5th December 2013

The owners of the businesses to which I referred will have heard about the Tomlinson report, which accuses RBS of artificially distressing successful businesses in order to seize assets and make a profit. That is a very serious allegation about a bank that we, of course, own. Tomlinson says:

“Banks must ensure…that robust processes are in place to…avoid conflicts of interest.”

It has transpired, however, that he is an RBS customer, and that he has a complaint about the bank pending. Was the Secretary of State aware of that before he allowed the report to be published, and does it not call the report’s independence into question? It is not independent, is it?