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Proceeding contribution from Michael Meacher (Labour) in the House of Commons on Monday, 21 November 2011. It occurred during Ministerial statement on Northern Rock.

Northern Rock

But is it not a scandal to sell off Northern Rock unnecessarily at this time at a cost to the taxpayer of up to a £500 million loss, especially when, in addition, the bad debts of Northern Rock Asset Management, which, significantly, the Minister did not mention, will be dumped on the taxpayer when the £50 billion of mortgages it still holds begin to default as interest rates rise?

Secondary information

Type
Proceeding contribution
Reference
536 c31 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Government shareholding Sales Northern Rock plc Virgin Money
Link
View this Proceeding contribution on www.publications.parliament.uk