Ex-RBS chief's pension unacceptable, says Brown

Gordon Brown today voiced his “anger” over the £693,000 (€776,283)-a-year pension awarded to the former boss of Royal Bank of Scotland, Fred Goodwin, which the UK prime minister described as “unjustifiable and unacceptable”.

Mr Brown said the government was seeking legal advice on clawing back the pension, and repeated his call for Fred to waive at least part of the money.

The former RBS chief executive last night rejected ministers’ calls for him to give up his entitlements as “not warranted” and suggested City minister Lord Myners had effectively sanctioned the deal when he was forced out of the troubled bank last October.