Call for inquiry into HBOS takeover
A call for a joint inquiry into the takeover of Halifax Bank of Scotland by Lloyds TSB will be made today by the Scottish Liberal Democrats.
The demand for the probe by Westminster and Scotland’s Holyrood government will come in a debate on the planned takeover.
Scottish Lib Dem leader Tavish Scott will argue for a joint inquiry by Westminster’s Treasury Select Committee and Holyrood’s Economy Committee.
He will claim the merger plan has thrown up “significant” issues that cross the boundary between Westminster and Holyrood responsibilities – like the impact of possible branch closures on small firms.
“A joint inquiry would be unprecedented, but this is an unprecedented proposal,” Mr Scott said.
The debate will follow a statement to parliament this afternoon by Scottish first minister Alex Salmond.
Lloyds TSB yesterday agreed to listen to Scottish Government calls for key decision-making functions to be located in Scotland if its £30bn (€37.9bn) takeover of HBOS goes ahead.
Mr Salmond said Lloyds TSB agreed to take a submission on the calls during talks in Edinburgh.
The bank has also agreed to make a presentation of its plans to the Scottish Council for Development and Industry (SCDI), the body which yesterday called for “specific proposals” for corporate decision-making to be located in Scotland.
The moves were disclosed by Salmond after talks with Lloyds TSB executive director Archie Kane.
The meeting formed part of the SNP administration’s drive to ensure the proposed takeover results in “the best possible deal” for Scotland.
Kane met the First Minister at St Andrew’s House, the Scottish government’s ministerial headquarters in Edinburgh, after the banking chief held separate meetings with opposition party leaders.
Kane later said the meeting was “excellent”.
“It is very early on in the process of this deal but we thought it was important at this stage for us to listen to the issues and concerns of senior politicians and the First Minister in particular.”
Kane went on: “We have two organisations we are trying to put together which have a long, strong Scottish heritage.
“There is a great and deep understanding of the issues as they pertain to Scotland.”
Salmond said Kane had agreed “in principle” that Lloyds TSB would make a presentation on its plans to the SCDI when it was in a position to do so.
“I welcome that, because that indicates a degree of confidence in what they believe they will have to say to that wider canvas of opinion,” said Salmond.
