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Cabinet secretary for Finance and Sustainable GrowthJohn Swinney MSP

T:0845 7741741

E: scottish.ministers@scotland.gsi.gov.uk

Sir Fred GoodWinChief Executive'Royal Bank of Scotland Headquarters

GogarnumEdinburgh QuayEH121HQ

October 2007

~

T h e S c o tt is hG o v e r n m e n t

I was trying to catch a word with you last week to convey my good wishes andcongratulations in the light of the ABN-AMRO deal. This is an enormous achievement forRBS and your partners, made more significant by the scale of effort that has been required

to deliver the deal. Our Government recognises the immense contribution RBS makes to theScottish economy. We also value the positive impression RBS' contribution to the Scottisheconomy makes to perceptions in other countries about Scotland as an attractive place to do

business.

I wish you well in the challenges of incorporating ABN into your activities and assure you ofthe strong support of the Scottish Government to your efforts.

J l~

JOHN SWINNEY

St Andrew's House. Regent Road. Edinburgh EH13DGwww.scotland.gov.uk

mailto:scottish.ministers@scotland.gsi.gov.ukhttp://www.scotland.gov.uk/http://www.scotland.gov.uk/mailto:scottish.ministers@scotland.gsi.gov.uk

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Cabinet Secretary for Finance and SustainableGrowthJohn Swinney MSP

T:0845 7741741

E: scottish.ministers@scotland.gsLgov.uk

Sir Fred Goodwin

Chief Executive

Royal Bank of Scotland

RBS Gogarburn

PO Box 1000

Edinburgh EH12 1HQ

7 November 2008

Dear Fred

~

The ScottishGovernment

I thought it was important that I write to you at this time to emphasise the Scottish

Government's commitment to maintaining confidence in the business sector in the current

economic climate. I fully appreciate that the banking sector is currently facing unprecedented

global circumstances and is fully engaged in facing the resulting challenges. However I

consider it a priority to minimise the impact of the current economic climate and in particular,

to address the emerging concerns associated around demand and supply of credit.

It is extremely important that businesses with good prospects can access the necessary

financial products to enable the business to grow. As you will be aware, the Scottish

Government was elected on a mandate of change with a strong commitment to reinvigorate

Scotland's economy. While Scotland has been outperformed by small European nations inthe past, the Scottish Government wants to reverse that trend once and for all. To do so we

need to inwlve the private sector in partnership and we fully recognise the contribution the

private sector can make to increasing sustainable economic growth. However in reaching

their growth aspirations, Scottish businesses need to be underpinned by a strong reactive

banking community providing valuable cash resources.

We are seeing an increasing number of representations from businesses raising concerns

about accessing affordable finance from the banking community. I would find it reassuring to

be made aware that the banks in Scotland are fully utilising all available sources of funding,

and ensuring any benefits are being passed onto customers. For example, the European

Investment Bank has made substantial resources available to assist the banks with SMElending. This was outlined at an event last week by Philippe Maystadt, EIB President, who

explained how the SME loans work, explained the improved and simplified reforms to the

product, and the benefit to banks and business. I recognise that it is for each individual

lender to decide whether the EIB facilty adds value but I would encourage you to consider

this option. Another option which might be appropriate for some SME customers is invoice

discounting. You will be aware that we changed our standard terms and conditions of

contract to allow suppliers to the Scottish Government to use factoring and invoice

discounting without prior permission.

St Andrew's House, Regent Road, Edinburgh EHl 30Gwww.scotland.gov.uk

mailto:scottish.ministers@scotland.gsLgov.ukhttp://www.scotland.gov.uk/http://www.scotland.gov.uk/mailto:scottish.ministers@scotland.gsLgov.uk

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It may reassure you to know that from our perspective, firms across Scotland are already

able to access advice on cash flow and business efficiency issues from the Business

Gateway website and where appropriate, direct from Scottish Enterprise and Highlands and

Islands Enterprise. The Scottish Government fully appreciates the heightened importance of

ensuring that the right advice is readily available to firms during these difficult times.

Boosting business advice is part of our economic recovery plan and the Scottish

Government will ensure that thIs continues to be made available. Where appropriate,

Business Gateway will be advising Scottish businesses about the UK wide Small Firms Loan

Guarantee Scheme. Again we would encourage you to participate in that scheme.

I hope that this letter is helpful in setting out the Scottish Government's desire to see a

continued commitment to improving the prospects for greater business creation and growth

of the small business sector in Scotland and in highlighting the importance of the central role

that the banking sector will play in this process.

I am writing in the same terms to all four clearing banks in Scotland and copies of this letter

also go to the Industry Deputy Chair of FISAB and to the Chief Executive of the Chartered

Institute of Bankers in Scotland.

JOHN SWINNEY

St Andrew's House, Regent Road, Edinburgh EH13DGwww.scotland;gov.uk

()- -

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Macleod K (Kirsteen)

From:Sent:

To:

Subject:

Roger

Holmes G (Gillian)

04 January 2008 11:33

'Roger. Lowry@rbs.co.uk'FW: Invitation to RBS Annual Reception with Sir Fred Goodwin

Unfortunately due to a Ministerial diary commitment Mr Mather will be unable to accept your kind

invitation

The Minister has a dinner engagement in Aberdeen for the evening of2l January 2008

Regards

Gill Holmes

Diary Secretary

Minister for Enterprise, Energy and Tourism

* 0141 2425778

All e-mails and attachments sent by a Ministerial Private Office to another official on behalf of a Minister

relating to a decision, request or comment made by a Minister, or a note of a Ministerial meeting, must be

filed appropriately by the primary recipient. Private Offices do not keep official records of such e-mails or

attachments. Thank you.

-----Original Message-----

From: Lowry, Roger (Group Comms) [mailto:Roger.Lowry@rbs.co.uk]Sent: Thursday, December 20,20073:37 PM

To: Lowry, Roger (Group C0111111S)

Subject: Invitation to RES Annual Reception with Sir Fred Goodwin

Importance: High

Invitation to RBS Annual Reception with Sir Fred Goodwin

I am writing to invite you to the 2008 RES Annual Reception for politicians and journalists at 35 St.

Andrew's Square on Monday 21 January. We should be delighted if you were able to join us at the

Reception, hosted by RBS Chief Executive Sir Fred Goodwin. The event begins at 18.30 and is scheduled to

end around 21.00.

I would be grateful if you could accept or send regrets by reply of email or by calling 020 7672 2285.

Best wishes

Roger Lowry

The Royal 13ank of Scotland Group

Roger Lowry

Head of Government AffairsRoyal Bank of Scotland Group

Head Office

1

mailto:Lowry@rbs.co.uk'mailto:[mailto:Roger.Lowry@rbs.co.uk]mailto:[mailto:Roger.Lowry@rbs.co.uk]mailto:Lowry@rbs.co.uk'

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Gogarburn

(12/280)

PO Box 1000

Edinburgh, EH12 IHQ

The Royal Bank of Scotland pIc, Registered in Scotland No. 90312. Registered Office: 36 St Andrew

Square, Edinburgh EH2 2YB

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