Lawson calls for RBS to be nationalised
Friday 01 February 2013
Printable
EmailFormer Tory chancellor Nigel Lawson waded into the banking bonus row today and told George Osborne to fully nationalise the Royal Bank of Scotland.
Mr Lawson, now a lord and an open critic of David Cameron's economic policy, made a scathing attack on the banking industry's bonus culture in an interview with the Financial Times.
The former City editor of the Sunday Telegraph said there was not a case for RBS to pay bonuses in the wake of the Libor rate-rigging scandal which is expected to cost the bank hundreds of millions of pounds.
He reckons banks should not worry about losing "star" staff.
"These are not particularly impressive individuals."
RBS is 82 per cent state-owned but Mr Lawson said it should be fully in public hands and made to lend more to businesses.
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