Darling bank statement in full

Chancellor Alistair Darling has told MPs that the government will provide another �13bn in funds to RBS in return for shares, and could end up owning up to 84% of the bank.

The new taxpayer-backed bank asset protection scheme will insure banks against further losses, aiming to clean up banks' balance sheets and encourage them to lend more freely.

But opposition parties derided the plan - shadow chancellor George Osborne said it amounted to "insuring the car after it had crashed" and Lib Dem spokesman Vince Cable told MPs that the government had "lost the plot".