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384869

registered interest
date	23/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to the oral statement by the Economic Secretary to the Treasury of 11 June 2015, Official Report, column 1373, what the evidence base is for his statement that the Royal Bank of Scotland has not been able to play its full part in small and medium-sized enterprise lending because of public ownership.
tabling member constituency	Leeds East
tabling member printed	Richard Burgon
uin	3794
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>The Chancellor has previously set out his objectives for the banks in state ownership, including Royal Bank of Scotland. We want to maximise the ability of these important banks to support the British economy, and we want to get the best value for money for the taxpayer.</p><p> </p><p> </p><p> </p><p>Large scale public ownership has an inhibiting effect on the involvement of private institutions in a company such as RBS, and therefore naturally impacts on broader commercial performance. The best way to deliver our objectives is to return RBS to private ownership. Commercial organisations are more efficient, more innovative and more effective when they are in the private sector.</p><p> </p><p> </p><p> </p><p>This policy is supported by advice from the Governor of the Bank of England and independent analysis from Rothschild investment bank. In their recent report into this issue, Rothschild note that by starting to sell down its stake in RBS, “the Government can bring about broader benefits for the institution, which could help to accelerate its recovery”, as well as improving the share price and securing value for the taxpayer.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 30/06/2015 14:20:21 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4493 label Biography information for Richard Burgon

384641

registered interest
date	22/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 16 June 2015 to Question 900337, from which bodies he has commissioned advice on the sale of Royal Bank of Scotland.
tabling member constituency	Leeds East
tabling member printed	Richard Burgon
uin	3514
answer	answer is ministerial correction date of answer 25/06/2015 answer text <p>In announcing the sale of the Government’s shareholding in Royal Bank of Scotland, the Chancellor is acting on independent advice from the Governor of the Bank of England and a report from Rothschild investment bank that it is in the public interest for the Government to begin now to sell its stake. The report by Rothschild, and the corresponding advice from the Governor, are both available online at <a href="http://www.gov.uk/" target="_blank">www.gov.uk</a>.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 3587 question first answered 25/06/2015 14:51:44 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4493 label Biography information for Richard Burgon

384642

registered interest
date	22/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what impact assessment he conducted of (a) the reprivatisation of RBS and (b) any other policy options for the future of RBS before the commissioning of the Rothschild Review into the UK Investment in Royal Bank of Scotland.
tabling member constituency	Leeds East
tabling member printed	Richard Burgon
uin	3499
answer	answer is ministerial correction date of answer 25/06/2015 answer text <p>The Government has been consistent and clear that its objective in respect of RBS ownership is to return the bank to the private sector in full.</p><p> </p><p> </p><p> </p><p>This policy is supported by recent advice from the Governor of the Bank of England that “it is in the public interest for the Government to begin now to return RBS to the private sector”, and that “there could be considerable net costs to taxpayers of further delaying the start of a sale”. The findings of the recently published Rothschild report into the Government’s shareholding in RBS concur with this assessment.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 25/06/2015 14:44:54 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4493 label Biography information for Richard Burgon

384644

registered interest
date	22/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 16 June 2015 to Question 900337, what estimate has been made (a) by the Governor of the Bank of England and (b) from Rothschild of the effect on the public purse of the sale of the Government's stake in the Royal Bank of Scotland.
tabling member constituency	Leeds East
tabling member printed	Richard Burgon
uin	3587
answer	answer is ministerial correction date of answer 25/06/2015 answer text <p>In announcing the sale of the Government’s shareholding in Royal Bank of Scotland, the Chancellor is acting on independent advice from the Governor of the Bank of England and a report from Rothschild investment bank that it is in the public interest for the Government to begin now to sell its stake. The report by Rothschild, and the corresponding advice from the Governor, are both available online at <a href="http://www.gov.uk/" target="_blank">www.gov.uk</a>.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 3514 question first answered 25/06/2015 14:51:44 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4493 label Biography information for Richard Burgon

381280

registered interest
date	10/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, What estimate he has made of the effect on the public purse of the sale of the Government's stake in the Royal Bank of Scotland; and if he will make a statement.
tabling member constituency	Leeds East
tabling member printed	Richard Burgon
uin	900337
answer	answer is ministerial correction date of answer 16/06/2015 answer text <p>The Chancellor has recieved independent advice from the Governor of the Bank of England and from Rothschild that it is in the interests of taxpayers to begin now to sell our stake in RBS. This is the right thing to do for the economy and for British taxpayers, and to ensure the best price possible.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 16/06/2015 16:53:59 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4493 label Biography information for Richard Burgon