Written question asked by Lord Laird (Crossbench), in the House of Lords. It was answered by Lord Myners (Labour) on Monday, 30 March 2009.

Banking

Question: To ask Her Majesty's Government whether they propose to require the banks in which they have a controlling interest to make contact by their clients more accessible and branch-based.

Answer: These are matters for the management of the banks in question. UK Financial Investments Limited (UKFI), an arm's-length company wholly owned by the Government, has been set up to manage the Government's investments on a commercial basis. Its overarching objectives will be to protect and create value for the taxpayer as shareholder, with due regard to financial stability and acting in a way that promotes competition. It will not intervene in the day-to-day management decisions of the banks of which it is a shareholder.

Secondary information

Type: Written question
Reference: 2205; 709 c175-6WA
Session: 2008-09
Related items: Banking: UK Financial Investments Ltd
Monday, 20 April 2009
Written questions
House of Lords
Subjects: Bank services Banks Government shareholding
Link: View this Written question on www.publications.parliament.uk