Ministerial statement on Thursday, 26 February 2009, in the House of Commons, led by Lord Darling of Roulanish.

Banking (Asset Protection Scheme)

Statement on the bank asset protection scheme and the agreement with the RBS Group.

Secondary information

Type: Parliamentary proceeding
Reference: 488 c367-80
Session: 2008-09
Department: Treasury
Chamber / Committee: House of Commons chamber
Proceeding contributions: Lord Darling of Roulanish | 488 c379 (Link to this contribution) I said at the time of the pre-Budget report that we would set out our next set of forecasts at the t...; Lord Darling of Roulanish | 488 c380 (Link to this contribution) I can perhaps help the hon. Gentleman on that: I hope very shortly to make further details available...; Philip Dunne | 488 c379 (Link to this contribution) We have just heard announced today, so far as I am aware, the largest commitment by any Government o...; Lord Darling of Roulanish | 488 c380 (Link to this contribution) As I said in my statement and in answers to questions on it, the Treasury and its outside advisers h...; Lord Soames of Fletching | 488 c380 (Link to this contribution) On the Chancellor's answer to my hon. Friend the Member for Ludlow (Mr. Dunne), is the Chancellor cl...; Lord Darling of Roulanish | 488 c380 (Link to this contribution) I set out the tax arrangements in my statement.; Peter Bone | 488 c380 (Link to this contribution) On the losses that RBS announced today, will it be able to throw those losses back and reclaim previ...; Lord Darling of Roulanish | 488 c380 (Link to this contribution) Even by the hon. Gentleman's standards, that is a particularly silly remark. We are taking this acti...; Julian Brazier | 488 c380 (Link to this contribution) Having announced this dismal package—a one-way bet that rewards failure on the part of individuals—w...; Lord Darling of Roulanish | 488 c376 (Link to this contribution) No, the fee was calculated taking into account RBS's position and the assets that were put forward. ...; Lord Darling of Roulanish | 488 c376 (Link to this contribution) I agree with my hon. Friend on that. We need to do what is necessary in both restructuring and finan...; Lord Darling of Roulanish | 488 c376-7 (Link to this contribution) First, I will happily pass on the hon. Gentleman's name to the new chief executive of the bank and s...; Desmond Swayne | 488 c376 (Link to this contribution) If the amount that the Chancellor has said that RBS must lose before his guarantee kicks in is corre...; Lynne Jones | 488 c377 (Link to this contribution) I share concerns about socialising losses and privatising gain, but whatever means are used to back ...; Lord Darling of Roulanish | 488 c377 (Link to this contribution) The hon. Gentleman is right that the banking problem is the most important that we face at the momen...; Lord Robathan | 488 c377 (Link to this contribution) I guess this banking crisis and the recession are the most important issues facing the country and P...; Stewart Hosie | 488 c378 (Link to this contribution) I agree with the Chancellor that fear of the toxic assets was the main inhibitor to securing confide...; Lord Darling of Roulanish | 488 c377 (Link to this contribution) The diligence examination of the assets was carried out by the same people in respect of all the ass...; Nicholas Winterton | 488 c378 (Link to this contribution) I am deeply concerned about the hundreds of thousands and perhaps millions of people in this country...; Lord Darling of Roulanish | 488 c378 (Link to this contribution) I hope that any institution in this country would co-operate with the relevant authorities, whether ...; Michael Jack | 488 c379 (Link to this contribution) The long-term effectiveness of the Chancellor's measures is predicated on growth resuming in the Bri...; Andrew MacKay | 488 c379 (Link to this contribution) Staying with Sir Fred's grotesque pension, why does the Chancellor think that the new chief executiv...; Lord Darling of Roulanish | 488 c378-9 (Link to this contribution) I said earlier that the board and UKFI on behalf of the Government are pursuing that matter. On the ...; Speaker | 488 c372 (Link to this contribution) Order. Let the Chancellor of the Exchequer answer.; Lord Darling of Roulanish | 488 c372-3 (Link to this contribution) First, once again, it is clear that, although the hon. Gentleman could not quite bring himself to sa...; Lord Darling of Roulanish | 488 c367-70 (Link to this contribution) With your permission, Mr. Speaker, I shall make a statement on the bank asset protection scheme and ...; George Osborne | 488 c370-1 (Link to this contribution) I thank the Chancellor for his statement, but to be blunt, we have heard all these claims before. Ba...; Speaker | 488 c371 (Link to this contribution) Order.; Lord Brady of Altrincham | 488 c376 (Link to this contribution) Can the Chancellor tell the House what assumptions about the state of the economy and the performanc...; Michael Fallon | 488 c375 (Link to this contribution) Will the Chancellor confirm that the full details of Sir Fred Goodwin's pension were set out in RBS'...; Lord Darling of Roulanish | 488 c375 (Link to this contribution) As the hon. Gentleman knows, that is not what I said.; Dennis Skinner | 488 c375 (Link to this contribution) Is the Chancellor aware that we all recognise that the reason why today's measure have been announce...; Lord Darling of Roulanish | 488 c375 (Link to this contribution) I agree with my hon. Friend that it is essential that we change the culture that has been prevalent ...; Vincent Cable | 488 c373-4 (Link to this contribution) In October, we broadly supported the Government because we thought that that was the right patriotic...; Lord Darling of Roulanish | 488 c374-5 (Link to this contribution) On the last point that the hon. Gentleman made, there has been a lot of debate about whether banks s...; James Plaskitt | 488 c376 (Link to this contribution) I welcome my right hon. Friend's statement. It is clear that large public holdings in the banks are ...; Andrew Mackinlay | 488 c378 (Link to this contribution) Does the Chancellor understand that many ordinary people are bewildered and dismayed that, across th...; Liz Blackman | 488 c376 (Link to this contribution) Bank lending in Erewash is, like everywhere else, pretty variable and constrained by the current cli...; Lord Darling of Roulanish | 488 c376 (Link to this contribution) As I have said, we will be publishing an annual report. Into how much detail and how local it can go...; Sally Keeble | 488 c377 (Link to this contribution) I welcome my right hon. Friend's statement. In addition to the commercial and residential property l...; Lord Darling of Roulanish | 488 c377 (Link to this contribution) On PFI projects, I hope that we will shortly be able to publish proposals that will take account of ...; Lord Darling of Roulanish | 488 c379 (Link to this contribution) As I said, the pension arrangements were agreed between the previous board and Sir Fred Goodwin. Tha...; Lord Darling of Roulanish | 488 c378 (Link to this contribution) The answer is that we will look at each bank on its merits. We do so because what is offered for ins...
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
Contains statistics: Yes
Link: View this Parliamentary proceeding on www.publications.parliament.uk

Banking (Asset Protection Scheme)

Secondary information

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