Oral question asked in the House of Lords, by Lord Borrie (Labour). It was answered on Thursday, 30 June 2011.
Banking: Northern Rock
- Question
- I wonder whether the noble Lord could show a little more enthusiasm for mutualisation as a most desirable method of organising and purveying financial services. That would give the Government a chance to distance themselves from the sad period of the 1980s, when far too many building societies moved away from mutualisation, with a lot of risky business being pursued thereafter.
- Answer
-
I have made clear on this and previous occasions that the Government regard mutualisation as a desirable model. It would be wrong to say that it is the best model, as the noble Lord has suggested, but, indeed, we want to see variety of provision of financial services in this country by organisations with different models, of which mutualisation should be one.
Secondary information
- Type
- Oral question
- Reference
- 728 c1857
- Session
- 2010-12
- Oral question type
- Supplementary
- Chamber / Committee
- House of Lords chamber
- Subjects
- Northern Rock plc
- Link
- View this Oral question on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2014-09-01 20:14:03 +0100
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