The Economy

Lord Myners has asserted that the RBS board exercised discretion to enhance Sir Fred's pension. Sir Tom McKillop flatly contradicts that, and he is supported by the minutes. In his letter, he says:""There was no question of any discretion being exercised in relation to Fred's pension and no discretion was exercised in that regard by any other RBS director."" Does not the Chancellor now think that Lord Myners' position is unsustainable?