On 8 March 2010 The House of Commons Scottish Affairs Committee released their report on “Banking in Scotland” following an inquiry into the subject carried out between 2009 and 2010. This Report focused on the impact on Scotland of the recent economic crisis, specifically the recapitalisation of two of its largest banks: Royal Bank of Scotland (RBS) and the merger Lloyds TSB and Halifax Bank of Scotland.
In this report the Committee made a number of recommendations and conclusions on banking in Scotland in relation to the following areas:
- The impact of the crisis on the financial services workforce;
- Bonuses paid to high earners;
- Bank lending;
- Fair treatment of customers; and
- International perceptions of financial services in Scotland
The document contains the Government’s response to the recommendations and conclusions made in this report. It details the policy actions that the Government had taken at the time that this report was published in addition to the policy commitments and actions that the Government has made and taken since the publication of this report.