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Banking Bill

Can the Minister help me further on the arm's-length issue? He defined ““arm's length”” as involving a company being conventionally run in a successful manner. Such a company is usually run by its owners as represented on the board, and one would expect that if an owner held a majority of shares in the company, minority shareholders, who could enter or exit as they wished, would follow the general policy pursued by the majority shareholder. In the case of Royal Bank of Scotland, the Government are the majority shareholder by a substantial proportion. In this situation, why are they pretending that they are a sleeping partner and leaving commercial decisions to the whim of minority shareholders or the management who are not acting in the interests of the taxpayer?