LLOYDS TSB FOUNDATION FOR SCOTLAND

That this House notes with dismay the decisions of Lloyds Banking Group to give notice to the Lloyds TSB Foundation for Scotland to terminate its funding covenant and to veto the appointment of the chair selected by the trustees; further notes the extensive charity work undertaken by the Foundation in all parts of Scotland which is of benefit to communities and deserving causes; believes that the proposals put forward by Lloyds Banking Group are detrimental to the Foundation and would transform it from a charity to a corporate foundation; and calls on the Government as 46 per cent. owner of Lloyds Banking Group to make clear its concerns and to ask Lloyds Banking Group to negotiate in good faith with the trustees and to leave the appointment of trustees to the arms-length process which has previously prevailed.