Oral question asked in the House of Lords, by Lord Borrie (Labour). It was answered by Lord Davies of Oldham (Labour) on Wednesday, 4 November 2009.
Banking: Mutualisation
- Question
- To ask Her Majesty’s Government whether, in determining the future of banks in which they have a significant stake, they will consider the scope for mutualisation as part of a package of increased competition.
- Answer
-
My Lords, the Government do not believe that it is in the public interest for the Government to operate banking services in the longer term. We therefore intend to return government stakes in banks to the private sector at the earliest and most prudent opportunity. Any decision will consider value for money to taxpayers, financial stability and protecting depositors’ money. Mutualisation would be considered with other options on this basis.
Secondary information
- Type
- Oral question
- Reference
- 714 c254
- Session
- 2008-09
- Oral question type
- Lead
- Procedure
- Topical questions (HL)
- Chamber / Committee
- House of Lords chamber
- Subjects
- Banks Government shareholding Mutual societies
- Link
- View this Oral question on www.publications.parliament.uk
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- Timestamp
- 2023-12-13 12:40:45 +0000
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