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Banks: Finance

Volume 486: debated on Tuesday 13 January 2009

To ask the Chancellor of the Exchequer what steps the Government have taken to monitor the effects of recapitalisation of major British banks. (245471)

The Government’s investment are managed on a commercial basis by UK Financial Investments Ltd (UKFI), a company which is wholly owned by the Government. Its overarching objectives will be to protect and create value for the taxpayer as a shareholder, with due regard to financial stability and acting in a way that promotes competition.