PARLIAMENTARY WRITTEN QUESTION
Royal Bank of Scotland (23 March 2016)

To ask Mr Chancellor of the Exchequer, if he will publish and place in the Library his correspondence on the (a) sale of Government's Dividend Access Share and (b) proposed sale of Government shares in Royal Bank of Scotland since August 2015.

Asked by:
Richard Burgon (Independent)

HM Government reached an agreement with RBS and the European Commission on 9 April 2014 to amend the terms of the Dividend Access Share (DAS). The full terms of this agreement can be found on the European Commission’s website:

http://europa.eu

The first sale of Royal Bank of Scotland (RBS) shares was conducted in August 2015. The advice which the Chancellor received from a) the Governor of the Bank of England; b) N.M. Rothschild; c) HM Treasury; and d) UK Financial Investments (UKFI) is available on the Government’s website:

www.gov.uk.

The government has not undertaken any sale of RBS shares since August 2015.

Answered by:
Dame Harriett Baldwin (Conservative)
11 April 2016