Skip to main content

Northern Rock

Volume 501: debated on Wednesday 2 December 2009

To ask the Chancellor of the Exchequer how much he has repaid Northern Rock following an overcharge from the Treasury to Northern Rock; and how that overcharge came to be made. (302551)

The Treasury’s resource accounts for 2008-09 (HC 611) reported that the terms of the Government’s loan to Northern Rock will change retrospectively to 1 April 2008 following state aid approval, which was received last month.

The financial implications for Northern Rock as a result of the change will be set out in the company’s 2009 annual report and accounts.