National Asset Management Agency

Chancellor of the Exchequer – in the House of Commons at 2:30 pm on 6th December 2011.

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Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury

Treasury officials have met NAMA officials as part of the bilateral engagement between the Irish and UK Governments. Day-to-day operational decisions are a matter for NAMA and its overall strategic decisions are set by the Irish Government.

Photo of Ian Paisley Jnr Ian Paisley Jnr Shadow DUP Spokesperson (Work and Pensions), Shadow DUP Spokesperson (Environment, Food and Rural Affairs)

I thank the Financial Secretary for that answer. As of today, NAMA is the single largest property owner in Northern Ireland. It is also the single largest creditor operating in Northern Ireland. It threatens to put 150 businesses and individuals into receivership. What are the Government doing strategically to address the needs of the economy in Northern Ireland to prevent NAMA from aggressively putting people out of business and taking blood from the stone?

Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury

I understand the concerns that the hon. Gentleman has identified, and I know that Sammy Wilson has had discussions with NAMA and the Irish Government about NAMA’s strategy in Northern Ireland. I encourage Ian Paisley to use the mechanism that is available to Members of Parliament and of the Northern Ireland Assembly to raise his concerns with NAMA directly.