Ex-RBS boss Goodwin quits charity role

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The Independent Online

Disgraced banker Fred Goodwin has quit as a trustee of a charity with close links to the Queen.

Mr Goodwin left his position with the Queen's Silver Jubilee Trust before he was stripped of his knighthood last week.

His title was "cancelled and annulled" after a key committee found he had brought the honours system into disrepute. The former chief executive of the Royal Bank of Scotland (RBS) was appointed a trustee by the Prince of Wales. He took up his post with the Trust in 2004 and helped to guide the organisation, which funds the activities of charities which encourage young people to do good deeds.

In 2009, Mr Goodwin quit as the RBS chief executive after the bank received a huge financial bailout from the Government.

Union leaders have reignited the debate about bankers' bonuses by claiming that changes to the tax system could raise £1.7bn a year.

The TUC says corporation tax relief for pay and bonuses worth more than 10 times average earnings should end in the banking and financial services sector.

Stopping relief on earnings over £262,000 would raise £1.7bn a year, which would pay back the deficit created by the financial crash, says the union organisation.