Written question asked by Lord De Mauley (Conservative), in the House of Lords. It was answered by Lord Davies of Oldham (Labour) on Thursday, 20 March 2008.
Northern Rock
- Question
- asked Her Majesty's Government:Further to the statement by the Chancellor of the Exchequer on 18 February (HC Deb, col 21) that he was taking Northern Rock into a period of temporary public ownership, how many months constitutes "temporary"; and whether there is any length of time beyond which temporary public ownership would not be permitted to continue.
- Answer
-
The Government have set a clear strategic aim for the board of Northern Rock plc to move the bank off all forms of public sector support at the earliest appropriate opportunity, but is not setting an arbitrary deadline for returning Northern Rock to the private sector. It is for the new board to develop a strategy that best serves the objectives of Government, as sole shareholder and guarantor, in particular to protect taxpayers and depositors and promote financial stability.
Secondary information
- Type
- Written question
- Reference
- 2246; 700 c65WA
- Session
- 2007-08
- Related items
- Subjects
- Nationalisation Northern Rock
- Link
- View this Written question on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2013-11-25 21:51:34 +0000
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