Mixed messages from the mandarins and the Bank
The spirit of Yes Minister is alive and well, it seems. When The Timeshighlighted a case of a contentious Royal Bank of Scotland loan to a small Welsh company that came with a taxpayer-funded guarantee, Westminster’s finest in the business department promised that an independent review would be conducted. Recent inquiries reveal a change of heart, with the department stating that Royal Bank of Scotland would be allowed to resolve the dispute by paying for “mediation” between itself and its disgruntled customer.
A shame, then, that no one told RBS. Correspondence from Andrew Armbrister, head of business support at the bank, shows that it has no intention of coughing up. So where does that leave things? The government is “considering an independent review”. Sir Humphrey would be furious.