Treasury written question – answered at on 23 May 2024.
Alex Cunningham
Shadow Minister (Justice)
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of a compensation scheme for Northern Rock shareholders.
Patricia Gibson
Shadow SNP Spokesperson (Environment, Farming, Agriculture and Rural Affairs)
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of delivering compensation to former Northern Rock PLC shareholders.
Patricia Gibson
Shadow SNP Spokesperson (Environment, Farming, Agriculture and Rural Affairs)
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of providing compensation for small shareholders for the loss of their shares in Northern Rock Plc.
Bim Afolami
The Economic Secretary to the Treasury
HM Treasury considers the issue of compensation for former Northern Rock shareholders to be settled. Both the Upper Tribunal in 2011 and the Court of Appeal in 2013 upheld the independent valuation of Northern Rock shares at nil value immediately prior to public ownership, and that no compensation was therefore due. HM Treasury does not intend to revisit this issue.
Yes4 people think so
No22 people think not
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