Royal Bank of Scotland: Incentives

HM Treasury written question – answered on 18th April 2017.

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Photo of Roger Godsiff Roger Godsiff Labour, Birmingham, Hall Green

To ask Mr Chancellor of the Exchequer, whether the Government had discussions with Royal Bank of Scotland on the recent giving of bonuses to nine executives of that bank.

Photo of Simon Kirby Simon Kirby The Economic Secretary to the Treasury

The Government’s stake in the Royal Bank of Scotland (RBS) is managed at arm’s length by UK Financial Investments (UKFI).

UKFI is responsible for engaging with RBS to ensure that remuneration policies are designed to pay the minimum necessary to attract and retain the staff needed to advance the Government’s objective of managing the shareholding in a way that represents value for money for the taxpayer.

As part of this process, UKFI advises ministers on RBS’s remuneration plans.

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