Banking (S.I., 2008, No. 432)

Once again, I have to remind Opposition Members that the decision that they supported in the autumn to support Northern Rock through Bank of England loans and Government guarantees exposed the taxpayer. Those decisions were supported by hon. Members at the time, and there are consequences that flow from that. As a result of those decisions at the time, it is important to ensure that the taxpayer's exposure is limited and their interest is protected. Opposition Members have singularly failed to make any proposal that would protect the taxpayer's interest as a result of those decisions.