Commenting on reports that RBS is set to pay out over £1bn in bonuses despite expectations of poor performance to be announced tomorrow, Liberal Democrat Shadow Scotland Secretary, Alistair Carmichael said, “The idea of a bank which is still propped up by taxpayers paying out over a billion in bonuses is offensive. There should be no rewards for failure.

“With people across the country having to tighten their belts, bankers are living on another planet if they think they deserve millions in bonuses.

“RBS is effectively owned by the public. If Gordon Brown really believed in fairness he would intervene to stop these bonuses going ahead.”