Chris Leslie MP, Labour’s Shadow Chief Secretary to the Treasury, responding to RBS results, said:
 
“Taxpayers will be incredulous that such large bonuses continue to be paid out at a time when huge losses are being made.

“It’s vital that RBS starts to serve the British economy better and that we ensure taxpayers get their money back, so we are encouraged by the new longer-term strategy set out by Ross McEwan today.

“With bumper bonuses across a number of banks this year the government should now repeat Labour’s successful tax on bank bonuses. George Osborne should also make clear now that he would reject any request from RBS later this year for approval to pay bonuses of more than 100 per cent of salary. At a time when ordinary families are facing a cost-of-living crisis and bank lending to business is down it cannot be justified.”