Asked in the PM had any advice to RBS on bonuses, the PMS said that as the bank had already made clear, no proposals had been made.
Asked whether the PM was going to ask for restraint or whether the decision would be left to RBS, the PMS said that the government had introduced well publicised reforms of the banking system and of bankers pay, and that it would be premature to say anything as there had been no proposal from the bank as yet.
Asked whether the board had had any informal discussions with the government as a shareholder, the PMS said that UK financial investments manage the government stake in the company and that there had been no proposal yet.
Asked for some background on how the relationship with the bank worked, the PMS said that the shareholder relationship had been clearly set out and there had been no change from that position.
Asked whether the PM planned to echo his speech from 3 years ago asking for restraint, the PMS said that the PM would highlight the measures this government has taken to make the regime stronger. But RBS hadn’t made a proposal yet and we should not be premature.
German leader visit
Asked if there were plans for the German Chancellor, Angela Merkel, to visit the UK, the PMS said that he was not in a position to give details of future visits at this stage, but said that they do meet regularly.
Balance of competencies
Asked when the balance of competencies review on freedom of movement would be ready and why it was late, the PMS said that it would be published when it was completed and that it was important that this work was based on broad evidence and was comprehensive.
Asked if the PM had seen a draft of the report, and was concerned about its content, the PMS said that he would not go into the drafting process.