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Northern Rock

My Lords, does the noble Lord not understand that he has just heard the first but not the last request for political interference by the Government in the management of this soon-to-be nationalised business? Does he not understand—all of us who have experience in these matters do understand—that whatever the legislation states, Ministers can interfere with the running of a nationalised industry? The lunchtime directive is about to be reinvented, it seems to me. Does he not agree that the £15 million a year that is to be paid by the Northern Rock nationalised bank will be paid not out of the bank’s profits but out of taxpayers’ money, predominantly taxpayers in the south of the country who pay most taxes, to special interests in the north of the country where the Government have a political interest in maintaining them? Can he say why the Government need powers to amend all banking legislation without primary legislation? What is the reason for that, which I understand is in the Bill?