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Banking (Special Provisions) Bill

I am grateful to my noble friend. What is it about Northern Rock, other than that it will pay higher interest rates than National Savings to depositors, that makes it uniquely placed to be not covered by the freedom of information legislation? What is remarkable about this is that it is coming from a Government who boast about their commitment to open government and transparency. It is an extraordinary thing. Perhaps I am just getting old and cynical but I think that there must be something that the Government do not want us to know. Given the scale of the operation—taking on to the Government’s balance sheet £100 billion of liabilities and £25 billion of cash extended—it is extraordinary that the Government should expect taxpayers to stump up and not get the information. I therefore support my noble friend in this amendment. I am deeply shocked that this Government of all Governments should be resisting this. Perhaps the Minister will have changed his mind; I hope so. I remember what the Prime Minister said on taking office. He talked about increasing the accountability and transparency of government. If this is an example of him delivering on that promise, it is no wonder that the electorate have begun to hold our institutions and our political process in contempt.