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Banking: Iceland

Volume 706: debated on Tuesday 13 January 2009

Questions

Asked by

To ask Her Majesty's Government whether information concerning conversations about the Icelandic banking sector that (a) have taken place and (b) are planned to take place between the government of Iceland, its banking industry and representatives of United Kingdom depositors in Icelandic banks can be made available under the Freedom of Information Act 2000; and when those conversations took place. [HL222]

To ask Her Majesty's Government further to the Written Answers by Lord Myners on 25 November (WA 281), whether they would provide information to select committees on conversations by Treasury Ministers and officials concerning the Icelandic banking situation. [HL223]

The Government have taken urgent action to protect the interests of UK depositors in Icelandic banks and are actively pursuing a full resolution. The Government have and will continue to ensure that Parliament and the public are updated on developments as and when possible, without compromising negotiations with the Icelandic Government.

The Chancellor, along with the Governor of the Bank of England and the Chairman of the FSA, gave details of discussions related to the Icelandic banking situation to the Common's Treasury Committee on 3 November 2008.

Whether to release information under the Freedom of Information Act will be a matter for individual public authorities, who will need to balance the public interest in maintaining any applicable exemption against the public interest in disclosing any information they may hold.