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Proceeding contribution from John McDonnell (Labour) 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)

We have heard a lot about the taxpayer's potential losses, but before my right hon. Friend concludes will she say something about potential job losses? We understand that 2,000 jobs are at stake. From the evidence available to the Government, are wider job losses possible, or are we consolidating at this point in time? She mentioned responsibilities, so would she comment on the responsibilities of the previous chief executive and the directors? The chief exec, we understand, is to receive a payout of £750,000, despite the folly of the investment strategy that he pursued that resulted in significant job losses.


Secondary information

Type
Proceeding contribution
Reference
474 c585 
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