Timing of RBS assets sale must be in national interest - Cable

8.55.05pm GMT Sun 22nd Feb 2009

Commenting on the proposed restructuring of Royal Bank of Scotland, Liberal Democrat Shadow Chancellor, Vince Cable said: "It's right that RBS should be getting rid of its big investment banking operations which are high risk. It should stick to low risk activities in the high street and with British businesses.

"However, decisions like this must be made in the national interest, not by managers acting on their own initiative.

"A crucial requirement is that whenever the sale of assets occurs the taxpayer achieves the maximum possible benefit.

"The timing has to be decided on national interest grounds."