DIRECTORS' CONDUCT AT ROYAL BANK OF SCOTLAND

That this House condemns the conduct of the Royal Bank of Scotland over the pension arrangements it agreed with Sir Fred Goodwin, including picking up the £1.8 million tax bill to pay him a £2.7 million lump sum; is outraged at the former chief executive's shameless greed in taking it, in addition to his annual £703,000 pension; and calls on the Government to demonstrate its resolve by commencing legal action against the directors or former directors involved, including Sir Fred Goodwin, for breach of fiduciary duty to the bank and its shareholders, who now include the taxpayer.