Scott slams Hornby’s share bonanza

10.15.14am BST (GMT +0100) Mon 22nd Sep 2008

Tavish Scott, leader of the Liberal Democrats in Scotland has described reports that the Chief Executive of HBOS will receive £2 million worth of shares in Lloyds TSB on completion of the takeover as the unacceptable face of capitalism.

Commenting, Mr Scott said:

"Bank of Scotland customers won't understand a boss who makes a killing at their expense. It was the Hornby financial model that built in risk. The bank's staff who face branch closures and job losses will be appalled. While the boss makes money, individual livelihoods are at stake.

"The Government must accept that bankers who coin it in while staff and customers suffer are the unacceptable face of capitalism."