As you are aware the Government's shareholdings in Lloyds Banking Group (LBG) and the Royal Bank of Scotland (RBS) are managed on a commercial and arm's length basis by UK Financial Investments Ltd (UKFI). UKFI's role is to manage the shares and not to manage the banks. Dr Tomlinson published his report in a private capacity-it is not a Government report. The Government is unable to comment on the veracity of the allegations. Nevertheless these are serious allegations. We understand RBS are investigating them; it is important that their investigation is concluded thoroughly and promptly. The Financial Conduct Authority (FCA) has considered the reports published by Sir Andrew Large into lending practices at RBS and, separately, by Dr Lawrence Tomlinson into banks' treatment of customers in financial difficulty. Accordingly, the FCA has agreed with RBS that an independent skilled person will be appointed in accordance with the FCA's power under section 166 of FSMA to review the allegations in the reports against RBS' practices within an agreed time scale. If the findings from the review reveal issues which come within the FCA's remit, the FCA will consider further regulatory measures.