Proceeding contribution from Philip Dunne (Conservative) in the House of Commons on Thursday, 26 February 2009. It occurred during Ministerial statement on Banking (Asset Protection Scheme).
Banking (Asset Protection Scheme)
We have just heard announced today, so far as I am aware, the largest commitment by any Government of this country at any time in history to an individual entity. The material provided with this information, as so often with this Government, is woefully short of detail. Will the Chancellor confirm two individual aspects of the statement? First, what level of certainty has he reached with the Royal Bank of Scotland that its assets—the £325 billion-worth of assets that will go into this scheme—have been agreed with the Government? RBS has just concluded a conference call with investors, confirming that in its perspective, the total quantum of assets of individual assets included in the scheme has not yet been finalised with the Government. Secondly, will he confirm whether any of those assets include non-performing assets? When will he provide detail on the level of the non-performing assets that the Government are prepared to take into this scheme?
Secondary information
- Type
- Proceeding contribution
- Reference
- 488 c379
- Session
- 2008-09
- Chamber / Committee
- House of Commons chamber
- Subjects
- Audit Assets Banks Capital investment Financial institutions Insurance Economic growth Private sector Protection Public sector Public expenditure Loans Reorganisation Royal Bank of Scotland World economy Asset protection scheme
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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