Bradford and Bingley

HM Treasury written question – answered on 12th January 2017.

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Photo of Corri Wilson Corri Wilson Scottish National Party, Ayr, Carrick and Cumnock

To ask Mr Chancellor of the Exchequer, if his Department will investigate the collapse of Bradford and Bingley plc in 2008.

Photo of Simon Kirby Simon Kirby The Economic Secretary to the Treasury

The Government has no plans to conduct an investigation into the collapse of Bradford and Bingley plc in 2008.

The National Audit Office concluded in its report of 4 December 2009 that the public support provided to the UK’s banking system by the Treasury was justified, given the scale of both the economic and social costs if one or more major banks had collapsed. In providing that support, the Treasury met two of the Government’s principal objectives, namely maintaining financial stability and protecting retail depositors.

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