On Tuesday, I asked the Business Minister, Margot James MP, about the Royal Bank of Scotland (RBS) Enterprise Finance Guarantee (EFG) scandal.
The EFG was a government scheme established to help struggling businesses – especially construction firms – after the banking crash of 2008. However, RBS appear to have used the EFG to transfer debt to the government scheme to help with their terrible balance sheets. This caused many viable businesses, including ones in Delyn, to be put under tremendous pressure causing foreclosure. Read more “Business, Energy and Industrial Strategy Questions: RBS”