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Taxpayers unhappy over RBS multimillion office revamp

Taxpayers unhappy over RBS multimillion office revamp

The Royal Bank of Scotland has come under fire by taxpayers this week, since it was announced that the Group reportedly ploughed millions of pounds into revamping and fitting out their central London offices, based on Bankside.

In a report by the Times, RBS – the majority of which is owned by taxpayers – paid a construction group between ┬ú34 million and ┬ú68 million for the work.

The revamp includes new buildings designed by architects Allies and Morrison, along with shops, restaurants and leisure facilities.

According to the Times’ report, taxpayer groups have expressed their disagreement with the news. Political director of the TaxPayers Alliance, Susie Squire, said:

“It’s an insult to the taxpayers who have propped up RBS that their cash has been splashed on a luxury office refurbishment. RBS’s profligate ways are what got them into such a financial mess, you would have thought they’d spend this money a bit more wisely. It’s in everyone’s interests to get RBS back in the black and off taxpayers’ hands as soon as possible.”

Despite the major works, RBS will keep their head office in the City of London, which is located on Bishopsgate near Liverpool Street station.

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Author: | August 13, 2009 | 0 Comments

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