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Northern Rock

Part of Topical Questions – in the House of Commons at 3:31 pm on 19th November 2007.

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Photo of Doug Henderson Doug Henderson Labour, Newcastle upon Tyne North 3:31 pm, 19th November 2007

May I say to my right hon. Friend that, contrary to the view expressed by Mr. Osborne, his proposals have been rightly welcomed so far in my constituency, where Northern Rock has its head office, and in Newcastle in general? He said that he would outline the principles on which the Government would act in the coming weeks, and I am pleased that the public interest was put at the forefront of those principles. In defining the public interest, is he prepared to look at the question of employment, not only at this time but at the time that any bid might be successful, and for a five-year period afterwards? Will he ask any bidder to itemise its employment plans, both at the time of sale and for a period of five years afterwards?