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Proceeding contribution from Lord Redwood (Conservative) in the House of Commons on Tuesday, 10 February 2009. It occurred during Debate on bill on Banking Bill.

Banking Bill (Money)

The hon. Gentleman is doing the Minister's job for us, by spelling out the almost £700 billion of commitments that we would like to be reported properly. In addition, the hon. Gentleman might like to know that the Bank of England balance sheet was around £40 billion at the time of the run on Northern Rock. It hit £240 billion at the end of last year, which is a sixfold increase. However, the Bank of England increases, together with those other schemes, amount to about £1 trillion. That is why we want to know where the money is going.

Secondary information

Type
Proceeding contribution
Reference
487 c1291;487 c1289 
Session
2008-09
Chamber / Committee
House of Commons chamber
Subjects
Disclosure of information Compensation Codes of practice Accountability Directors Administration Assets Bank services Banks Delegated legislation Bank of England Investment Financial institutions Insolvency Government assistance Financial Services Authority Holding companies Foreign companies Pay Pensions Payments Property transfer Public sector Parliamentary scrutiny Loans Nationalisation Treasury Valuation Northern Rock National Loans Fund Henry VIII clauses Retrospective legislation
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk