The weak position of the Royal Bank of Scotland (RBS) is damaging to the UK economy, according to the Parliamentary Commission on Banking Standards, which has outlined recommendations on how to tackle the problem.Its final report, titled Changing Banking for Good, the Commission suggested that value for taxpayers and the wider benefits to the economy should be at the forefront of government concerns as it works to re-privatise RBS.At present, RBS is roughly 80 per cent owned by the taxpayer following its bail out during the financial crisis. The government has been working to privatise RBS again but it unable to do this until the bank is stable enough and taxpayers can get back the money they are owed in shares.The chief executive of the bank, Stephen Hester, had been working to improve its balance sheet. However, he recently announced that he would be resigning and now a successor is being sought to continue this work in his stead.Charles BakerCharles is a reputed financial analyst with decades of experience under his belt.
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