MP for Halifax Alice Mahon has tabled an early day motion signed by 88 MPs over the £28bn merger of Halifax and Bank of Scotland, questioning the decision to site its headquarters in Edinburgh.
Mahon gathered support last week after discovering that the headquarters of the merged company, HBoS, will be at BoS' base in Edinburgh instead of the current HQ in Halifax.
The motion states: “This house believes that the Halifax, Yorkshire's biggest financial company, must keep its headquarters in Halifax, the town whose name it takes; does not accept that all major financial centres in the UK should be located only in capital cities; notes that Leeds is a growing area of financial excellence and that if the headquarters are moved to Edinburgh this would be a major blow to the Yorkshire region as a place in which to invest and locate.”
The only sticking points in the negotiations between Halifax and BoS were previously believed to surround the positions that chief executives James Crosby and Peter Burt would hold in the merged company.
But both issues have been resolved, with industry observers saying there is little prospect of the merger being referred to the Competition Commission.
Charcol head of PR Siobhan Hotten says: “The most concerning factor in any merger is overlap and loss of jobs, but neither appears to present a problem in this case.”