Proceeding contribution from Lord Naseby (Conservative) in the House of Lords on Wednesday, 20 February 2008. It occurred during Debate on bill on Banking (Special Provisions) Bill.
Banking (Special Provisions) Bill
My Lords, the Minister says that this bank may not expand its business, yet it has 20 per cent of the mortgage market. Having done that, it has found itself bankrupt. Now, the constraint in going to Europe is that that is post-event. What worries the rest of the banking sector and the building society movement is that this bank will continue to trade as it does today: with the highest ISA rate of interest and the highest deposit banking rate in the market, thereby pinching business away from the open market with government funds—the taxpayers’ funds.
Secondary information
- Type
- Proceeding contribution
- Reference
- 699 c194
- Session
- 2007-08
- Chamber / Committee
- House of Lords chamber
- Subjects
- Compensation Accountability Administration Assets Banks Competition Building societies Bank of England Freedom of information Liability Government assistance Financial Services Authority Public bodies Mortgages Loans Staff Nationalisation Lloyds TSB Shares Shareholders Takeovers Northern Rock Granite Sunset clauses
- Legislation
- Banking (Special Provisions) Bill 2007-08
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-16 02:14:51 +0000
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