Proceeding contribution from Philip Dunne (Conservative) in the House of Commons on Monday, 18 February 2008. It occurred during Ministerial statement on Northern Rock.
Northern Rock
In his hat trick of humiliating statements, the Chancellor has told us that he is accepting the proposal in order to protect taxpayers. If that is the case, what independent assessment has the Treasury undertaken of the quality of the loan book? A year ago Northern Rock was writing mortgage business at two and a half times its market share, at a time of unprecedented house price inflation. It is highly likely that a large proportion of those mortgages will turn sour. Is the Chancellor relying entirely on the FSA's assurances that the bank is solvent, or has he bothered to do a bit of independent checking himself?
Secondary information
- Type
- Proceeding contribution
- Reference
- 472 c35
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Compensation Banks Public appointments Public sector Nationalisation Sales Shareholders Northern Rock Northern Rock Foundation
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-16 02:02:35 +0000
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