RBS loss biggest in UK history

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Last Modified: 26 Feb 2009
By: James Blake

Chancellor Alistair Darling reveals that he has asked the former CEO of RBS to forego payment of his pension in light of the bank's losses.

Although Sir Fred Goodwin is only 50, he is already benefiting from payments of £650,000 a year.

The Royal Bank of Scotland's loss in 2008 was confirmed this morning at £24.1bn, the biggest in UK corporate history.

The size of its so-called "toxic assets", debts that may never be repaid and are now being taken on by the taxpayer, is £325bn.



Darling on RBS results



Union on Goodwin pension

Rob McGregor of the Unite trade union: