JohnCenaFan28
02-27-2009, 05:59 PM
Gordon Brown has voiced "anger" over the £693,000-a-year pension awarded to the former boss of Royal Bank of Scotland, Sir Fred Goodwin.
Describing the figure as "unjustifiable and unacceptable", the Prime Minister said the Government is seeking legal advice on clawing it back, and repeated his call for Sir Fred to waive at least part of the money.
On Thursday, the former RBS chief executive rejected ministers' calls for him to give up his entitlements as "not warranted", and suggested City minister Lord Myners had effectively sanctioned the deal when he was forced out of the troubled bank last October.
Mr Brown said: "The behaviour in the RBS where very substantial additional payment awards were given is something that makes me angry and will make the public angry.
"That is why we are taking all the legal advice that is necessary to secure the rights of the general public in this and we are still asking Sir Fred to waive the pension he has been given.
"I think the whole public know that when people make mistakes and banks fail, the people who made the mistakes can't and shouldn't run off with entitlements and with additional discretionary payments that people rightly believe they shouldn't have."
He added: "I still think it would be better if Sir Fred waived the pension entitlement himself, but if that is not to be done, then we will continue to seek the legal advice that is necessary.
Meanwhile, Downing Street said Mr Brown continues to have full confidence in Lord Myners amid the row.
Lord Myners was recruited to the Government from the City only days before the state's rescue of RBS last October.
The PM's spokesman added: "He believes that Paul Myners is a minister who brings a huge amount of expertise and experience in City matters, which is why he was appointed City minister."
-Nova
Describing the figure as "unjustifiable and unacceptable", the Prime Minister said the Government is seeking legal advice on clawing it back, and repeated his call for Sir Fred to waive at least part of the money.
On Thursday, the former RBS chief executive rejected ministers' calls for him to give up his entitlements as "not warranted", and suggested City minister Lord Myners had effectively sanctioned the deal when he was forced out of the troubled bank last October.
Mr Brown said: "The behaviour in the RBS where very substantial additional payment awards were given is something that makes me angry and will make the public angry.
"That is why we are taking all the legal advice that is necessary to secure the rights of the general public in this and we are still asking Sir Fred to waive the pension he has been given.
"I think the whole public know that when people make mistakes and banks fail, the people who made the mistakes can't and shouldn't run off with entitlements and with additional discretionary payments that people rightly believe they shouldn't have."
He added: "I still think it would be better if Sir Fred waived the pension entitlement himself, but if that is not to be done, then we will continue to seek the legal advice that is necessary.
Meanwhile, Downing Street said Mr Brown continues to have full confidence in Lord Myners amid the row.
Lord Myners was recruited to the Government from the City only days before the state's rescue of RBS last October.
The PM's spokesman added: "He believes that Paul Myners is a minister who brings a huge amount of expertise and experience in City matters, which is why he was appointed City minister."
-Nova