Bristling Myners unrelenting on Goodwin
By Alex Stevenson
Lord Myners has laid the groundwork for the next stage of his fight with the Royal Bank of Scotland (RBS) board and Sir Fred Goodwin.
In a letter dated on Monday and written to the Commons’ Treasury committee chairman John McFall, the City minister continues his claim he was not informed about the discretionary nature of ex-RBS boss Sir Fred’s annual £703,000 pension.
Media reports since the weekend have claimed former RBS chairman Sir Tom McKillop is writing to Mr McFall to provide more evidence about the matter.
Lord Myners said he was told Sir Fred’s pension pot was “enormous” during negotiations over the government bailout of the failing bank in October.
And it has emerged Lord Myners was given an estimated figure of between £15 million and £20 million by RBS staff.
The City minister insists he was not informed this amount was nearly double the original amount because Sir Fred had been allowed to take voluntary retirement from the age of 50.
“I have been consistent and clear about this matter and I am therefore keen to see any statements to the contrary, especially those that the Treasury committee receives as part of your inquiry,” Lord Myners wrote in the letter.
During his evidence session to the Treasury committee, Lord Myners said: “At no stage prior to February of this year was I, or anyone else in the government, as far as I know, made aware that in the process of replacing Sir Fred Goodwin RBS had exercised a discretion which (apparently) allowed him to take his full, undiscounted pension from the age of 50 and therefore nearly doubled the value of his pension.”
