ROYAL BANK OF SCOTLAND'S CHARGING POLICIES

EDM number 1494 in 1992-93, proposed by Nigel Griffiths on 01/03/1993.

That this House notes with concern the Royal Bank of Scotland's new staff incentive scheme offering bank managers and other staff bonuses of ú400 if they levy the maximum charges on customers; believes that this new 'Performance Plus' scheme is designed to milk every penny of profit from account holders; notes that the bank recently increased its charges to customers by up to 150 per cent; notes that 70,000 businesses went bust last year and that many of these and other small businesses and individual customers are already unable to meet high bank charges; notes that the Royal Bank group were able to pay Mr Peter Wood, the chief executive of the bank's Direct Line insurance subsidiary, ú6 million last year but that for many businesses the bank's new policy will be the last straw; believes the bank is removing any incentive for managers to treat the individual needs of customers with sympathy and understanding; calls on Lord Younger to exercise his power over the Royal Bank of Scotland's board to reverse this new policy; and calls on the President of the Board of Trade to investigate bank charges and charging policy.

This motion has been signed by a total of 70 MPs, 1 of these signatures have been withdrawn.