Banking: Royal Bank of Scotland — Question

Part of the debate – in the House of Lords at 3:04 pm on 1 February 2011.

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Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury 3:04, 1 February 2011

My Lords, UK Financial Investments manages the Government's shareholding in the Royal Bank of Scotland on an arm's-length and commercial basis. The Government are clear that remuneration policies at banks need to reward long-term sustainable performance, not incentivise short-term excessive risk taking. We have made it clear to RBS that it should have a smaller bonus pool than last year.