Lord Myners absolves himself of any blame in pension row
Despite rumours, counter rumours and spin in the press Lord Myners has yet again stepped into the mix to suggest that he played no part in the pension agreement afforded to former Royal Bank of Scotland chief executive Sir Fred Goodwin. Despite the fact he was in charge of monitoring banks where the UK government had a substantial stake, he has refuted the allegations that he signed off Sir Goodwins pension arrangements and gone on record to suggest that he was "misled by directors of the Royal Bank of Scotland".
This is a very serious allegation but the fact it has been made within the confines of Parliament affords Lord Milner protection from any potential defamation or libel case brought by anybody who feels their reputation has been brought into question. These comments have most definitely increased pressure on both the Royal Bank of Scotland and the government to disclose exactly what went on with the suggestion, ahead of a court case brought by shareholders of Royal Bank of Scotland, this is not the end of the saga.
Even though Lord Minor accepts that he had discussions regarding Sir Fred Goodwin's pension, with Royal Bank of Scotland directors, he maintains he was not aware of any "contractual rights" for Sir Fred to take his pension early and effectively double the funding which would be required.
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