Public Bodies

House of Lords written question – answered on 25th March 2009.

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Photo of Lord Ashcroft Lord Ashcroft Conservative

To ask Her Majesty's Government whether any United Kingdom bank which they control or in which they have a shareholding has been asked to look at businesses in difficulty in any parliamentary constituency in which the sitting Member of Parliament has a majority fewer than 5,000.

Photo of Lord Myners Lord Myners Parliamentary Secretary, HM Treasury

No UK bank has been asked to look at businesses in difficulty by reference to their location in any parliamentary constituency in which the sitting Member of Parliament has a majority fewer than 5,000.

UK Financial Investments (UKFI) has been set up to manage the Government's investments in financial institutions. These investments currently comprise holdings in RBS, holdings in the Lloyds Banking Group, and in due course, UKFI will manage the 100 per cent ownership of Northern Rock and Bradford & Bingley. It's overarching objectives are to protect and create value to the taxpayer as a shareholder, with due regard to financial stability and acting in a way that promotes competition.

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