Letter condemns RBS for irresponsible investments
IAIN BANKS, the Scottish author, along with MPs and church leaders, has written to the chancellor to complain about the government’s handling of Royal Bank of Scotland.
More than 30 people have signed a letter to Alistair Darling, complaining about how RBS is being allowed to invest.
They say the government has written “a blank cheque” with taxpayer’s money, and criticise the bank’s role in financing hostile overseas takeovers and lending to environmentally unfriendly companies.
With the taxpayer now the largest shareholder in the bank, the letter’s signatories criticise the fact that RBS supported Kraft’s bid for Cadbury, even though the move would put UK jobs at risk.
It has also been signed by MP Alan Simpson, Reverend Ian Galloway, the convenor of the Church of Scotland, Body Shop co-founder Gordon Roddick, and Billy Hayes form the Communication Workers Union.