Search

Norwich MP slams RBS over alleged mistreatment of small businesses

PUBLISHED: 17:24 06 February 2018 | UPDATED: 17:40 06 February 2018

Norwich South MP Clive Lewis. Picture: PA Wire

Norwich South MP Clive Lewis. Picture: PA Wire

PA Wire/PA Images

A Norwich MP has accused Royal Bank of Scotland executives of misleading parliament over the lender’s mistreatment of small firms through its controversial restructuring unit.

Labour’s Norwich South MP Clive Lewis – who has seen an unredacted copy of the Financial Conduct Authority’s investigation into RBS – said it states the bank’s behaviour was “systemic and widespread”.

The shadow Treasury minister now believes that RBS executives, including chief executive Ross McEwan and chairman Sir Howard Davies, “misled the Treasury select committee in their evidence and had a stated policy of misleading members of this house”.

The state-backed lender has been dogged by allegations that it intentionally pushed small businesses towards failure in the hope of picking up their assets on the cheap.

“Far from being isolated incidents of poor governance as they claimed, this report explicitly states their behaviour was ‘systemic and widespread’,” Mr Lewis said.

An RBS spokesman said: “We are not clear on what basis the allegations are being made, but we would strongly deny the suggestion that we misled the committee.”

Search hundreds of local jobs at Jobs24

Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Insight

Ask for help, be ready to change direction and love what you do, says Lisa Angel, as she lays out 11 pieces of key advice for aspiring start-ups.

A Suffolk dairy farmer-cum-cheesemaker and an estate’s retail diversification are among a host of rural businesses to have made it through to the regional finals of an awards event celebrating enterprise in the countryside.

Celebrating Success

cover

Enjoy the
Celebrating Success
digital edition

Read

Green 100

cover

Enjoy the Green 100
digital edition

Read

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100