It completely slipped under my radar but in 2004 the Bank of England decided to withdraw from the provision of retail banking & clearing services to government departments in order to concentrate on its core responsibilities
Well, I suppose that is just going with the flow of another popular modern management theory & all the implications were well thought through
So then each government department had to go through a public procurement process to find an alternative supplier of banking services – presumably complying with EU rules about giving all European banks a fair chance to bid
And so it has come to pass that Her Majesty’s Revenue & Customs have selected the Royal Bank of Scotland for this role
When I can lever my jaw up from the floor I shall want to ask: Who provides retail banking services for HMRC’s parent company – Her Majesty’s Treasury?
