State-owned Royal Bank of Scotland has announced that it is axing 2,600 jobs across the UK. At least 2,000 roles will go in the bank’s insurance arm – which controls Churchill and Direct Line. Another 600 are expected to go at the head office of its high street retail banking business.
By the time you read this, I hope that we have a clearly empowered government rather than the committee-based world of a hung parliament. The global recession aside, so much of the economic deficit is caused by systemic bureaucracy, something that would only be accentuated by a lack of decisiveness at the very top table.