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Banking industry in Scotland
03/11/2009
Commenting on today's banking announcement, Finance Secretary John Swinney said:
"I welcome moves to increase competition in our banking sector. We will work with the UK Government to ensure that opportunities for jobs and headquarter functions in Scotland are maximised and to build upon the skills and expertise which currently exist in Scotland.
"Restructuring must be handled in a way which ensures value for money for taxpayers to receive a fair return on the significant investments that have been made. Any restructuring must also occur in a manner which supports the wider Scottish economy, particularly in assisting the development and growth of viable businesses.
"I have today written to the Chancellor to express concerns about how commitments in relation to lending to small businesses are being met in practice, to seek further information on how the banks divestment process will be taken forward and to look forward to continued dialogue between the Scottish and UK Governments on these issues. I have also written to the European Commission to ensure that the Scottish Government is fully involved in how these issues are taken forward."