SCOTTISH AFFAIRS COMMITTEE REPORT ON RBS CLOSURES

Today I welcomed the Scottish Affairs Select Committee Report on RBS closures in the Commons.

This report lays bare how RBS has ridden roughshod over our communities despite the taxpayer being the majority shareholder in this bank.

The report shows that no impact assessments were carried out before these closures were announced and consultation with communities was only carried out after the decision to close branches was made.

Access to Banking Standards must be amended to ensure that customers are consulted before final decisions on closures are announced or taken.

This lack of proper consultation, the fact that RBS shares are now being sold by the UK Government at below market value, the fact that £16m was paid out in bonuses last year, the fact that record profits of £752m were recently announced, and the fact that no UK Government Minister would appear before this Select Committee inquiry to justify the Government’s decision not to intervene to prevent these closures, explains why the people of Kilbirnie, Kilwinning and Saltcoats feel so betrayed by these closures.