To ask the Chancellor of the Exchequer what plans his Department has to introduce a national loan guarantee scheme. (245851)

I refer the hon. Member to the statement by the Prime Minister on 10 December 2008, Official Report, column 527-28.

The Government have announced a package of measures to ensure the stability of the financial system; protect ordinary savers, depositors, businesses and borrowers; and protect the interests of taxpayers. More information is available on the Treasury website at:

http://www.hm-treasury.gov.uk/press_105_08.htm.

The Government will take whatever steps are necessary to ensure the stability of the financial system.