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


Banking Bill (Money)

I did have some idea about that, but I am grateful to the right hon. Gentleman for pointing it out, because it brings me to my next point. Through British taxpayers' support for the RBS balance sheet, we are supporting a very large stock of United States car loans. The British taxpayer is standing behind those loans. Does the House not find it peculiarly ironic that the Government are wrestling with schemes to underpin the UK car industry when we are already guaranteeing car loans in the United States, through RBS's exposure? I do not blame the Government for that situation. It follows inescapably from the support that RBS has been given. However, it does mean that the Government have to report to Parliament on all this at a very early date. These matters cannot be left until October.


Secondary information

Type
Proceeding contribution
Reference
487 c1294-5;487 c1292-3 
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