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
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- 2023-12-15 23:49:28 +0000
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_459772
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