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“Any decision on Ulster Bank must protect customers not British Treasury” - McKay

6 June, 2013


Commenting on speculation that the British Treasury is considering off-loading the Ulster Bank from the liabilities of its parent company, Royal Bank of Scotland (RBS), Sinn Féin Economy Spokesperson Daithí McKay MLA said:

“Any attempt to off-load Ulster Bank from the RBS group must be in the best interests of the customers and Irish taxpayers and not that of the British Treasury.

“We have long experience of British governments acting in their own selfish economic interests when it comes to Ireland – North or South – and this is the position that the Irish government must adopt to any proposal from the British government regarding Ulster Bank.

“Sammy Wilson must also spell out what his "other options" apart from an Irish government takeover are and discuss them in detail with the entire Executive and not just a cosy talk with party colleague, Enterprise Minister Arlene Foster.

"Why would the Irish government even consider transferring the ‘bad’ arm of RBS - Ulster Bank - into NAMA to facilitate the recovery of RBS at the expense of additional burden on Irish taxpayers?

“As Chair of the Finance and Personnel Committee I will be seeking clarification from the Ulster Bank on its future plans to address the extent of its debts and provide reassurance of its future viability.”

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