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Proceeding contribution from Mark Hoban (Conservative) in the House of Commons on Thursday, 16 June 2011. It occurred during Ministerial statement on Regulatory and Banking Reform.

Regulatory and Banking Reform

The hon. Gentleman makes an important point. I reiterate what I said before. Yes, Northern Rock has been put up for sale. The purchaser could be a proprietary company or another mutual. An acquisition by another mutual could actually help strengthen the mutual sector. I have made it clear that as the sale process proceeds, we will compare the outcome with either an initial public offering or a stand-alone remutualisation. The challenge that those supporting a stand-alone remutualisation need to address is how we ensure that the taxpayer gets value for money from that.

Secondary information

Type
Proceeding contribution
Reference
529 c971 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Compensation Consumers Banks Conduct Competition Bank of England Finance Insurance companies Financial services Insolvency International cooperation Financial Services Authority Financial markets Government shareholding Private sector Privatisation Protection Standards Sales Regulation Reform Treasury Financial Services Compensation Scheme Northern Rock plc Financial Policy Committee Financial Conduct Authority Prudential Regulation Authority Independent Commission on Banking Southsea Mortgage and Investment Company
Legislation
Draft Financial Services Bill
Link
View this Proceeding contribution on www.publications.parliament.uk