Financial Stability

The decision to merge was taken on a commercial basis by the two companies, Lloyds TSB and HBOS. The Government's role was to waive the competition requirements that would have put an absolute block on it, because we think that a commercial solution would be far better. However, it is a decision for the companies. There are processes that need to be followed; not least, shareholders have to be consulted. That process is following its course now.