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Northern Rock Foundation

Volume 472: debated on Tuesday 26 February 2008

To ask the Chancellor of the Exchequer if he will ensure that the guaranteed funds for the Northern Rock Foundation will go to funding arts and heritage projects. (188892)

[holding answer 25 February 2008]: As part of the Government's decision to take Northern Rock plc into temporary public ownership, on 17 February the Treasury announced that the Northern Rock Foundation will receive from Northern Rock a minimum of £15 million a year in 2008, 2009 and 2010. The distribution of funds is a matter for the trustees of the Northern Rock Foundation.