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Lord Myners set to appear before the Treasury select committee next week

Lord Myners, who is the government's chief in charge of the bank rescue programme, has been called to appear in front of the Treasury select committee next week regarding the pension arrangements of Sir Fred Goodwin. This could be a seriously embarrassingly week for the UK government with questions being asked as to why Sir Fred's pension doubled from £8 million to £16.6 million on the very weekend that UK taxpayers were hit with a bill for £20 billion to keep the Royal Bank of Scotland afloat.

Over the last few weeks the UK government has been very much on the offensive with regards to the pension fund arrangements of Sir Fred Goodwin but could find themselves having to defend their own policies and actions over the next few days. It'll be interesting to see the timescale and actions which were taken with regard to the pension fund arrangements and who actually agreed and signed off the deal.

This is only one of a number of matters which could come to light over the next few days as we learn that a number of shareholders are looking to take legal action against former and current Royal Bank of Scotland directors who were involved in the massive rights issue last year. There are all kinds of rumours, allegations and speculation surrounding the issue and the state of the company's balance sheet at the time.

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