A leading Scottish financier yesterday stepped up his attacks on the British Government as he confirmed that he had abandoned his attempt to put together a rival bid for HBOS.

Jim Spowart, a former HBOS executive, said that senior Labour figures had scuppered his attempt to mount an alternative to the Lloyds TSB merger.

Mr Spowart claimed that confidential details of discussions he had with Jim Murphy, the Scottish Secretary, were leaked, placing his bid at a commercial disadvantage.

He said that he was being forced to concede defeat after failing to attract government interest. Mr Spowart, who founded Intelligent Finance and Standard Life Bank, said: “We won the technical argument, but there's no interest being shown to me at all by any Labour MP, MSP or the Scottish

Secretary.” Mr Spowart gave warning that “tens of thousands” of jobs were on the line because of the proposed Lloyds TSB deal. He added: “I think it's all about jobs. I'm surprised that a Labour Government is not encouraging an alternative which would safeguard these jobs.”

The financier said that he was still angry after Mr Murphy confirmed earlier this month that talks had been held with Mr Spowart about a potential bid for HBOS. The minister's political opponents accused him of trying to scupper the deal by leaking details.

Robert Peston, the BBC business editor, named the Bank of China as the bidder, prompting accusations that the Treasury was leaking details. Mr Spowart said: “There are so many leaks — the Government is like a sieve.”

Despite bowing out of his own anti-merger campaign, he backed two former banking chiefs, Sir Peter Burt and Sir George Mathewson, who launched a campaign of their own.

Sir George, former chairman and chief executive of Royal Bank of Scotland, and Sir Peter, former HBOS deputy chairman, are attempting to oust the current chairman Lord Stevenson of Coddenham and chief executive Andy Hornby so they can step into the jobs.

Mr Spowart admitted that maintaining the independence of HBOS, with its headquarters in Edinburgh, was all but lost. “It looks unlikely,” he said. “Sir Peter and Sir George will have to do something exceptional now.”

Critics of Mr Spowart yesterday claimed that he had been “giving a running commentary” on his plans to “anyone who would listen”.

One source said: “He has failed to come up with a credible bid and is now blaming everyone else.” He added: “The only support he has is from Alex Neil and he's only got abou a fiver.”

Mr Neil, an SNP MSP who has campaigned against the Lloyds TSB takeover, said that Mr Spowart's comments reflected badly on Labour.

He added: “It speaks volumes for the Labour Party in Scotland that they offer no support to a prominent and respected businessmen like Jim Spowart, who believes there is no level playing field when it comes to alternative bids.

“The more that comes out about Labour's behaviour over this takeover, the more it looks like it is about saving Gordon Brown's face and not about saving Scottish bank jobs.”

Mr Neil said that 40,000 jobs could go at Lloyds TSB and HBOS if the deal went ahead.

A spokesman for the Scotland Office declined to comment on the criticism made of the Scottish Secretary.He said: “The Government has made it abundantly clear on a number of occasions that there would be a level playing field for alternative bids for HBOS, were any to emerge.

“The single concrete fact we have to work to in all of this is that, given the lack of other bids emerging despite much talk in the media, the Lloyds offer was, is and remains the only bid on the table. It is ultimately a matter for HBOS shareholders.”

He said that Mr Murphy had not disclosed that talks had been held with a foreign bank but had merely confirmed that discussions had taken place.

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