Written question asked by Paul Flynn (Labour) on Wednesday, 15 January 2014, in the House of Commons. It was due for an answer on Friday, 17 January 2014. It was answered by Sajid Javid (Conservative) on Tuesday, 21 January 2014 on behalf of the Treasury.

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Banks

Question

To ask the Chancellor of the Exchequer what his policy is on placing a Minister or other departmental representative on the board of directors of those banks in receipt of public funds and support; and if he will consider appointing as non-executive directors to the boards of banks in receipt of public funds for recapitalisation representatives from the (a) bankworkers' trade union and (b) third sector.

Answer

Both Lloyds Banking Group and the Royal Bank of Scotland are commercial companies in which the Government is a shareholder, but they are run on a commercial basis. To ensure that this is the case, UK Financial Investments (UKFI) manage the Government's stake at arm's length, on behalf of the Government.

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Secondary information

Type

Written question

Reference

183491; 574 cc102-4W

Session

2013-14

Subjects

Directors Banks

Link

View this Written question on www.publications.parliament.uk