Royal Bank of Scotland

HM Treasury written question – answered on 16th October 2014.

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Photo of Jim Shannon Jim Shannon Shadow DUP Spokesperson (Health), Shadow DUP Spokesperson (Transport), Shadow DUP Spokesperson (Human Rights)

To ask Mr Chancellor of the Exchequer, what the value is of sold RBS assets overseas; and how much of that value has been returned to his Department.

Photo of Andrea Leadsom Andrea Leadsom The Economic Secretary to the Treasury

HM Treasury does not hold information relating to the value of assets overseas that have been sold by RBS.

HM Treasury does not directly receive proceeds from the disposal of RBS assets, rather it retains value through its shareholdings in the company.

RBS is run on a fully commercial basis, at arm’s length from HM Treasury. It retains its own board of directors who are responsible for the commercial decisions of RBS. HM Treasury is not involved in the disposal decisions or execution process for individual assets.

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