Question
Asked by
To ask Her Majesty's Government how much public money has been provided in the past year to support HBOS and the Royal Bank of Scotland per individual voter on the Westminster parliamentary rolls in Scotland. [HL781]
As the noble Lord will be aware from previous Answers, the Treasury does not collect the figures he seeks. The two banks operate throughout the United Kingdom and in many other countries.
Figures on the Scottish population are published by the Office for National Statistics. The latest figures available are for 2006 when the population of Scotland was estimated at 5,100,000.
The Treasury invested £19.97 billion in RBS on 1 December and £11.48 billion in HBOS on 15 January. On 16 January, the Treasury's investment in HBOS was exchanged for shares in the Lloyds Banking Group, in accordance with the arrangements for the merger between HBOS and Lloyds TSB.
Both banks were named among the eight initial eligible institutions for the credit guarantee scheme. The allocations for individual banks under the scheme are confidential.
It has also been announced that the Treasury has reached in principle agreements with Lloyds Banking Group, which now owns HBOS, and the Royal Bank of Scotland about participation in the asset protection scheme.