Banking (Special Provisions) Bill

Ron Sandler is assessing what the options and future course of the business should be. Hon. Members want us to answer all their detailed questions about what the business plan should be, yet they also want Ministers not to take those decisions. They want this to be an arm's length operation—which is what we think it ought to be—that is properly run on a commercial basis and in which the decisions are taken by the board and by the people with the expertise to do so, but they want us simultaneously to prescribe to the board the exact details of its business plan. We are clear that Ron Sandler and his team should have time properly to draw up a business plan. It will need to be agreed with the Government and to be compliant with EU state aid rules. That is a sensible way for us to go forward.