Clause 6 — Transfer of property, rights and liabilities

Part of Delegated Legislation – in the House of Commons at 8:30 pm on 21st February 2008.

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Photo of Stuart Bell Stuart Bell Second Church Estates Commissioner 8:30 pm, 21st February 2008

I understand that at least 40 per cent. of Northern Rock's mortgages are going across to Granite. Again, we are talking about a concept: the concept of balance sheets and accountability. I must tell Opposition Members that each time they open their mouths they show that they do not understand the City of London, they do not understand accountancy— [Interruption.]