Scott condemns Labour's banking shambles as RBS boss pay package announced
June 22, 2009 4:59 PM
Originally published by Scottish Liberal Democrats
Originally published by Scottish Liberal Democrats
Commenting on reports that RBS is to announce a £9.6 million pay package for Chief Executive Stephen Hester, Scottish Liberal Democrat leader Tavish Scott said:
"No one can understand how a banker can be paid so much when small businesses in Scotland can't get credit and RBS are closing their business accounts.
"Nor can it be right that Mr Hester's performance is linked to share price in this way. His salary is tied to short term performance, which along with the disgraceful inaction of the Labour Government is exactly why RBS is in the hole it is.
"Alistair Darling has approved this mega salary deal. The Chancellor is interested not in businesses or the wider economy but in short term payback to the government.
"The UK Government's role in this shambles gets worse and worse by the day."
Ends.
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