Prime Minister's question asked in the House of Commons, by Lord Cameron of Chipping Norton (Conservative). It was answered on Wednesday, 23 January 2008 on behalf of the Prime Minister.

Engagements

Question: I join the Prime Minister in paying tribute to Corporal Darryl Gardiner, who was killed in southern Afghanistan on Sunday. He died serving our country. Taxpayers have the right to know what their total exposure is under the Prime Minister's latest plan for Northern Rock. Let us be clear: the rescue package is as much for his reputation as it is for the business. If the bonds are not paid back, and if Northern Rock fails to meet its obligations, what is the total exposure? How much?

Answer: The loans and bonds are secured against the assets of Northern Rock, which, as everyone understands, has a high-quality loan book. It is our intention to get the best deal for taxpayers: they will get their money back, and make a profit.

Secondary information