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Darling seeks bank job assurances | Darling seeks bank job assurances |
(30 minutes later) | |
Assurances are being sought over Scottish jobs after Lloyds TSB unveiled details of its takeover of HBOS. | Assurances are being sought over Scottish jobs after Lloyds TSB unveiled details of its takeover of HBOS. |
Lloyds TSB said it would continue to use the HBOS headquarters in Edinburgh and would focus on retaining jobs north of the border. | Lloyds TSB said it would continue to use the HBOS headquarters in Edinburgh and would focus on retaining jobs north of the border. |
It also said it would continue to print Bank of Scotland notes. | It also said it would continue to print Bank of Scotland notes. |
Chancellor Alistair Darling - who represents an Edinburgh constituency - said he was "extremely concerned" about local jobs and was seeking assurances. | Chancellor Alistair Darling - who represents an Edinburgh constituency - said he was "extremely concerned" about local jobs and was seeking assurances. |
HBOS has 17,000 staff in Scotland, while Lloyds TSB has more than 7,000 employees. | HBOS has 17,000 staff in Scotland, while Lloyds TSB has more than 7,000 employees. |
"It is very sad for employees of HBOS," said the chancellor. | "It is very sad for employees of HBOS," said the chancellor. |
There are many of my constituents in Edinburgh who will be affected by this and it will be very worrying for them Alistair DarlingChancellor Timeline: The Bank of ScotlandSalmond attacks financial 'spivs' | There are many of my constituents in Edinburgh who will be affected by this and it will be very worrying for them Alistair DarlingChancellor Timeline: The Bank of ScotlandSalmond attacks financial 'spivs' |
"The new bank has made it clear that it wants to maintain its Scottish headquarters in Edinburgh. | "The new bank has made it clear that it wants to maintain its Scottish headquarters in Edinburgh. |
"I've spoken to Lloyds TSB as well as to HBOS because I am extremely concerned about jobs. | "I've spoken to Lloyds TSB as well as to HBOS because I am extremely concerned about jobs. |
"There are many of my constituents in Edinburgh who will be affected by this and it will be very worrying for them. | "There are many of my constituents in Edinburgh who will be affected by this and it will be very worrying for them. |
"But I know that the new organisation will be very keen to make its position as clear as it possibly can and I very much want a significant presence to remain there." | "But I know that the new organisation will be very keen to make its position as clear as it possibly can and I very much want a significant presence to remain there." |
The chancellor also confirmed the government would "waive competition requirements" in relation to the takeover. | The chancellor also confirmed the government would "waive competition requirements" in relation to the takeover. |
Lloyds TSB unveiled the terms of its £12.2bn takeover of Britain's biggest mortgage lender after the HBOS share price plunged. | Lloyds TSB unveiled the terms of its £12.2bn takeover of Britain's biggest mortgage lender after the HBOS share price plunged. |
Meanwhile, Independent MSP Margo MacDonald called for an emergency sitting of the Scottish Parliament to discuss threats to the Scottish banking sector. | |
In a letter to the presiding officer she said: "The normal ministerial statement, while valuable, is insufficient to meet the needs of our economy and, above all, the anxiety hanging over the heads of the staff of the bank." |