RBS may show the way

Lord Allesley has always been a free marketeer. The idea of regulation and red tape goes against the grain. LA has however been lobbying heavily to get the banks to guarantee existing funding streams where there has been no change in the business. it appears that RBS are now doing that. One of LA's businesses banks with RBS and LA knows his board will be pleased by the move. LA has always lobbied for this hoping that the threat of regulation would lead to a sensible self imposed solution by the banks. LA hopes this is now the case.

Well done RBS, common sense and a medium term view appear to have prevailed.

Lord Allesley