RBS £9.6m award to Hester criticised

A near-£10 million incentive package for Stephen Hester, chief executive of

the taxpayer-controlled Royal Bank of Scotland, was condemned last night

by politicians and unions..

George Osborne, the Shadow Chancellor, said: "Stephen Hester may be

the right man to lead RBS, but this is the wrong type of pay deal. It is

a one-way bet which smells of the old-style City."

Vince Cable, the Liberal Democrat Treasury spokesman, said that the pay

package reflected the Government's desire for a quick sale of its stake back

to the private sector.

Unite, the union that represents many RBS employees, said that it was

 "appalled" by Mr Hester's package.
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