Proceeding contribution from Lord Redwood (Conservative) in the House of Commons on Monday, 31 March 2008. It occurred during Legislative debate on Banking (S.I., 2008, No. 432).
Banking (S.I., 2008, No. 432)
Surely the Chief Secretary can see that, if the Bank of England had simply acted as bank manager, and provided tough love to Northern Rock and managed it through it, we as taxpayers would not have had to absorb all the responsibilities and potential losses of sacking staff and losing on current trading. Will she confirm that she is accepting a business plan that means that the taxpayer will have to pay the losses in 2008, 2009 and 2010? Why do we need those as well?
Secondary information
- Type
- Proceeding contribution
- Reference
- 474 c582
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Accountancy Assets Banks Annual reports Government assistance Property transfer Mortgages Loans Redundancy Nationalisation Shares Repayments North East Business plans Northern Rock Granite
- Legislation
- Northern Rock plc Transfer Order 2008
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 23:49:39 +0000
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_459756
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