Proceeding contribution from John McDonnell (Labour) in the House of Commons on Tuesday, 19 February 2008. It occurred during Debate on bill and Committee of the Whole House (HC) on Banking (Special Provisions) Bill.
Banking (Special Provisions) Bill
Can it be made clear for the record that although Granite is a creature of Northern Rock, was established by Northern Rock and was undertaken as an exercise for profit and tax avoidance, liabilities resulting from the overall exercise of Northern Rock will fall on the taxpayer, while those who participated in Granite to make profits will have no liabilities whatever? Is that statement accurate?
Secondary information
- Type
- Proceeding contribution
- Reference
- 472 c277
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Compensation Accountability Audit Banks Competition Building societies Bank of England Liability EU law Government assistance Financial Services Authority Economic situation Property transfer Mortgages Loans Staff Office of Fair Trading Nationalisation Regulation Stocks and shares Shareholders Takeovers Treasury Virgin Group Business plans 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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- Timestamp
- 2023-12-16 02:07:29 +0000
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