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Northern Rock Buyer Must Pay Back Taxpayers £24 Billion - Cable

12.37.49pm GMT Fri 16th Nov 2007

Vincent Cable MP speaking in Parliament

Liberal Democrat Acting Leader, Vince Cable MP

Today is the deadline for potential suitors of Northern Rock to submit their bids to the Government. Commenting, Liberal Democrat Acting Leader, Vince Cable MP said: "Whatever happens to Northern Rock, all of the £24 billion of taxpayers money must be paid back. Any future owner must not expect to enjoy continued loans from the Government.

"It is simply unacceptable that the Chancellor has sought to cover up the sheer scale of payments made to Northern Rock.

"We are now in a dangerous situation in which banks feel they can take ludicrous gambles with their customers' money, knowing that if it all goes wrong, taxpayers will bail them out."

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[Previous news story]: Stagnating Housing Market and Rising Consumer Debt Causing Nightmare Situation - Cable (Tue 13th Nov 2007).
[Next news story]: Government Must Come Clean On Northern Rock Loan - Cable (Fri 16th Nov 2007).

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Wed 28th Oct 2009:

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Fri 20th Mar 2009:

[Cable: Northern Rock report is account of Treasury’s mismanagement]

Sat 12th Jan 2008:

[Cable - Northern Rock: Sense Has Prevailed But Questions Must Be Answered]

Fri 11th Jan 2008:

[Northern Rock Must Use Money From Assets Sale To Reduce Borrowing - Cable]

Thu 6th Dec 2007:

[Northern Bank Is Only Being Kept Alive With Taxpayers' Money - Cable]

Sat 17th Nov 2007:

[Chancellor Must Explain Northern Rock Situation To The House Of Commons - Cable]

Fri 16th Nov 2007:

[Government Must Assume Full Responsibility For Northern Rock - Cable]

[Government Must Come Clean On Northern Rock Loan - Cable]

Thu 11th Oct 2007:

[Government's Attitude To Northern Rock Crisis Reeks Of Complacency - Cable]

Fri 14th Sep 2007:

[Northern Rock debacle entirely predictable - Cable]

Mon 6th Oct 2003:

[Taxpayers Pick Up Multi-Billion Pound Bill For Risky Arms Deals]

Wed 9th Jul 2003:

[TAXPAYERS FOOT THE BILL FOR £2 BILLION VAT FRAUD ]

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