Ex-Chancellor Lawson calls for full nationalisation of RBS

Former Tory Chancellor Nigel Lawson has called for George Osborne to fully nationalise RBS and criticised the bank's so-called "star" traders.

Lord Lawson said he also believed there is a case for paying no bonuses at RBS this year, given the continued fallout from the LIBOR scandal. The bank is expected to pay a fine running into the hundreds of millions for its role in the affair. Speaking to the Financial Times, Lawson said RBS, currently 82% owned by the state, should be fully nationalised and turned into a lending vehicle to small businesses. Lawson, who was Chancellor from 1983 to 1989, called on the government to withstand bank lobbying efforts to water down the proposed ring-fencing of retail assets. He also cr...