Alistair Darling, the Chancellor, will confirm over the next few days that Royal Bank of Scotland (RBS) and Lloyds Banking Group, both of which are majority-owned by the taxpayer, will be split up.
(Not that Lloyds is majority owned by the Govt.)
More competition on the High Street, why not?
Although, to be honest, not sure if that\’s more competition than we had before the govt pressured Lloyds into taking over HBOS or not. There\’s more than a suspicion that this is simply making a fanfare about unpicking their own previous mistake.