Anger over ‘blank cheque’

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BEST-SELLING author Iain Banks joined forces with academics, businessmen and MPs yesterday to accuse the UK Government of misusing bailed-out banks.

The group said the Treasury was “writing a blank cheque” for the banks to finance “anything from destructive fossil fuel companies to hostile takeovers that threaten jobs”.

They called on the government in a letter to transform The Royal Bank of Scotland into the “Royal Bank of Sustainability” to promote a low-carbon economy.

The letter’s signatories include Body Shop co-founder Gordon Roddick Alan Simpson MP, Communication Workers Union boss Billy Hayes and Church of Scotland convener Ian Galloway.