Royal Bank of Scotland: Small Businesses

HM Treasury written question – answered on 1st March 2018.

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Photo of Bill Esterson Bill Esterson Shadow Minister (Business, Energy and Industrial Strategy), Shadow Minister (International Trade)

To ask Mr Chancellor of the Exchequer, whether the Government plans to respond to the findings of the Financial Conduct Authority report on RBS treatment of small businesses recently published by the Treasury Select Committee.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The investigation into the Royal Bank of Scotland’s (RBS) treatment of small and medium-sized enterprise customers transferred to its Global Restructuring Group is a matter for the Financial Conduct Authority (FCA), which is operationally independent of Government.

It would not be appropriate for the Government to comment further while the FCA’s investigation is ongoing.

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