RBS pays for Goodwin's security

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The Independent Online

Shadow chancellor George Osborne today said he believes it is inappropriate for former Royal Bank of Scotland boss Sir Fred Goodwin to receive security funded by the bank.

Sir Fred has been under fire since he formally left the bank in January and the pressure on him has intensified in recent days with the row over his £693,000-a-year pension.

It has emerged that RBS has been funding his security arrangements. The bank said it is company policy to continue security services for board members in the months after they leave.

Mr Osborne told BBC Scotland's Politics Show today he thought most people would find the situation "very surprising".

He said: "I don't think it's appropriate that the taxpayer should be providing any more benefits to Fred Goodwin."

And Labour's John McFall, chair of the Treasury Select Committee at Westminster, said links between Sir Fred and the bank should be severed.

He told the programme: "I don't think that RBS has any part to play in providing Fred Goodwin or any other ex-employee with money.

"We need to save every single penny we've got given the situation that we're in."

RBS would not comment on how much it costs for security measures such as CCTV cameras at Sir Fred's Edinburgh home.

It is understood that no additional security measures have been brought in beyond the ones which were in place when he was at the bank.

An RBS spokeswoman said today: "It is our normal policy to offer the option of this service to Board members for a few months following their departure."

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