HAS ANYONE AT THE BBC READ THE LIST OF RESERVED MATTERS?

!

In short, there is nothing that the Scottish government can do to stop this loss-making semi-nationalised company closing a large part of its network of branches in Scotland, even though it promised that it would never leave a town without a bank.

RBS was 73% owned by the British government at the end of 2015 (the latest figures I could find). If the British government wishes to do something about the closures, it is the major shareholder. Despite the fact that he will have to sell the shares at a massive loss, Philip Hammond is intending to do just that.

Getting rid of the 62 branches in Scotland along with 197 branches of NatWest in England will make it a leaner operation and more attractive to buyers. So, maybe this has been done in collusion with Hammond, given he represents the largest shareholder.

To the best of my knowledge, the Scottish government has no shares in the company.

It’s a great pity that the Unite Union and the BBC couldn’t work that out for themselves.