Commenting on the announcement that a last-minute legal challenge to Lloyd’s takeover of HBOS has been lodged, Tavish Scott, leader of the Liberal Democrats in Scotland said:

“This is an important new and emerging campaign to keep HBOS independent.

“People who are worried about their jobs and local branches will be relieved to see business leaders standing up for them.

“This legal challenge to Peter Mandelson’s bad decision to ignore the clear findings of the OFT report is good news.

“It is in nobody’s long term interest to see less competition in banking. We know small businesses are already facing hikes in bank costs. One less bank on the high street can only make this worse.

“I hope this appeal will be successful.”