Banking (Special Provisions) Bill

Part of the debate – in the House of Lords at 1:15 pm on 21st February 2008.

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Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords) 1:15 pm, 21st February 2008

I shall come to openness and the Government with regard to Northern Rock when I address Amendment No. 3 tabled by the noble Lord, Lord Newby. We are committed to openness on this matter, which has been reflected in our approach to date. We promptly notified Parliament of significant developments in relation to Northern Rock as they arose and will continue to do so. The Chancellor of the Exchequer has made Statements to Parliament on Northern Rock no fewer than six times in the past five months. That approach has been in addition to the normal parliamentary procedures of the approval and accountability of government expenditure, particularly the supply process, together with the laying of departmental minutes for any liabilities. Both Houses have—certainly this House has—had Northern Rock raised on numerous occasions through Parliamentary Questions.