Commenting on media reports detailing allegations that RBS secretly tried to profit from struggling businesses, Clive Lewis MP, Labour’s Shadow Business Secretary said:

“Small businesses make an enormous contribution to the UK economy, providing jobs, investment and valuable goods and services across the economy. But they are often also vulnerable.

“The picture emerging about how SMEs were treated at the hands of RBS is appalling. A well-functioning financial sector should help businesses finance the investment they need to grow, not extract value and destroy companies for their own short-term gain.

“Labour’s National Investment Bank will mobilise £500 billion investment to ensure that SMEs have access to the long-term, patient finance that they need to flourish.”