Jan 21 2012
Nick Clegg has said he is "sympathetic" to calls for former RBS boss Sir Fred Goodwin to be stripped of his knighthood.
The Deputy Prime Minister's comments come after Labour leader Ed Miliband said Sir Fred's knighthood, bestowed on him in 2004 for "services to banking", should be revoked.
The senior City figure has been heavily criticised for his part in the dramatic collapse of RBS and the honour is being reconsidered.
Liberal Democrat Mr Clegg told the Daily Mail: "Honours should be deserved and awarded to unique people who have made Britain a better place.
"I sympathise with those who think it a travesty for a man who did so much damage to the British economy and made so much money in the process to retain his knighthood.
"I understand the outrage and there is an independent process that deals with revoking honours - they must be left to make their own decision on this."
The case has been referred to the Honours Forfeiture Committee, made up of some of the country's most senior civil servants.
Mr Miliband has said his party was "clearly wrong" to recommend Sir Fred be recognised in 2004.
Prime Minister David Cameron is also understood to be "sympathetic" to the calls to strip him of the award and said it was "right" it was reviewed.
Mr Cameron said the committee should take into account a Financial Services Authority (FSA) report about the failures at RBS.