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Dubai Ports World

Volume 502: debated on Wednesday 16 December 2009

To ask the Chancellor of the Exchequer what estimate he has made of the likely level of financial exposure of the Royal Bank of Scotland and Lloyds Banking Group to Dubai World debt. (307157)

To ask the Chancellor of the Exchequer whether UK Financial Investments is seeking representation on the Dubai World creditors' committee. (307159)

In line with its Investment Mandate, agreed with Treasury, and the Institutional Shareholders' Committee Statement of Principles, UKFI acts as an engaged and informed institutional shareholder for the banks in which Government have shareholdings.

Day to day management of the banks' business is a matter for the banks' boards.