HBOS: Lloyds TSB

Treasury written question – answered on 22nd October 2008.

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Photo of Linda Riordan Linda Riordan Labour, Halifax

To ask the Chancellor of the Exchequer if he will make it his policy to ensure that as many HBOS employees in Halifax as possible retain their jobs as part of the conditions of the pending merger of HBOS with Lloyds TSB.

Photo of Ian Pearson Ian Pearson Parliamentary Under-Secretary, Department for Business, Enterprise & Regulatory Reform, Economic Secretary, HM Treasury

It is in everyone's interest—customers, shareholders and employees—that the future of the firm is secure. As this is a commercial transaction, it will be for Lloyds TSB to determine the future of the company but the Government will remain in contact with the firms about this issue. Recognising the challenges that the region faces as a result of recent changes to local banking services, the Chancellor has asked Yorkshire Forward to convene a group to conduct rapid assessment on what is needed to support local jobs.

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