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Northern Rock

Volume 486: debated on Tuesday 13 January 2009

Order. Will hon. Members who are leaving the Chamber please leave not en masse, like a football crowd, but quietly, so that we can get on with the business? That would be helpful.

Thank you, Mr. Deputy Speaker. The petition, signed by 76 petitioners, states:

The Petition of small shareholders and supporters of Northern rock of the Wansbeck constituency in the North East of England,

Declares that it welcomes the acknowledgement by the Government that it must pay compensation for nationalising Northern Rock plc, but that the terms of reference for the valuation of the shares are wrongly based as the company was not in administration and was still a ‘going concern’.

Further declares that if these terms are unchanged there will not be a fair compensation payment which will lead to many in our region having their savings and pensions undermined which in turn will have a negative impact on the North East’s economy.

The Petitioners therefore request that the House of Commons calls on the Government to reconsider the terms of reference given to the valuer so that he can fully reflect the true value of Northern Rock shares.

And the Petitioners remain, etc.


On a point of order, Mr. Deputy Speaker. Will you help the House? Today, motion 4 on the Order Paper was not moved by the Government, notwithstanding the fact that there are some three and a quarter hours left for debate, which can go on until 10 o’clock. The motivation for not moving motions 4 and 5 seems to be the fact that if they were moved, we would have the opportunity to debate them, and—

Order. I am sorry to cut the hon. Gentleman off, but the Chair plays no part in deciding whether Government motions are moved, so I am afraid that I cannot help him on that point of order.