MSP seeks seat on Scot bank board

Oct 15 2008

An independent MSP has called for a board seat on one of the Scottish banks to come under Government control.

Margo MacDonald, the Lothians MSP, said the multi-billion pound banking bail-out had major jobs implications for Edinburgh and the surrounding area.

It emerged that the UK Government is to pump £20 billion into the Royal Bank of Scotland, taking a 60% shareholding, with £17 billion going into the planned Lloyds TSB and HBOS merged institution for 40% share of the new bank.