Ex-Chancellor Lawson calls for full nationalisation of RBS

clock

Former Tory Chancellor Nigel Lawson has called for George Osborne to fully nationalise Royal Bank of Scotland (RBS) and criticised the bank's so-called "star" traders.

Lord Lawson said he also believed there is a case for paying no bonuses at RBS this year, given the continued fallout from the LIBOR scandal. The bank is expected to pay a fine running into the hundreds of millions for its role in the affair. Speaking to the Financial Times, Lawson said RBS, currently 82% owned by the state, should be fully nationalised and turned into a lending vehicle to small businesses. Lawson, who was Chancellor from 1983 to 1989, called on the government to withstand bank lobbying efforts to water down the proposed ring-fencing of retail assets. He also cr...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Consultancy launches to provide IFAs with 'robust' investment processes

Consultancy launches to provide IFAs with 'robust' investment processes

Sheridan Admans launches Infundly

Isabel Baxter
clock 06 November 2025 • 1 min read
Inflation protection not front of mind for financial advisers

Inflation protection not front of mind for financial advisers

Titan Square Mile report suggests

Jen Frost
clock 04 November 2025 • 3 min read
Trick or treat? The UK and global economy face their Halloween ghosts

Trick or treat? The UK and global economy face their Halloween ghosts

‘Wealth managers and market professionals are tiptoeing past economic graveyards’

Stephen Jones
clock 31 October 2025 • 4 min read