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

She will be happy to write to me about that. I am very grateful because the issue is causing concern outside this place. Given the lack of information about how the Government intend to implement the transfer order and compensate shareholders if any compensation is due, if the Government choose to ignore the standard ranking of securities, it will blow another hole in the confidence of financial institutions in the Government's respect for the ordinary workings of the market. I am not arguing that preference shareholders should necessarily receive anything, as that will come down to a judgment on what compensation should be paid at all; but if any compensation is due, it is due first to the preference shareholders, and if that does not happen, I would urge the Chief Secretary to think very carefully, as it will raise ripples right across the financial sector. The House will be pleased to hear that that brings me to my final point. My right hon. Friend the Member for Wokingham asked a question about the business plan objectives that are set out quite succinctly in the annual report, both in the executive chairman's statement and in the operating financial review, where the company's objectives are referred to as, first, the repayment of the Bank of England debt; secondly, the release of Her Majesty's Treasury's guarantee; and thirdly, a successful return of the company to the private sector. Where within those objectives sits the priority donation out of income—by the way, the company is generating none at the moment—of £15 million to good causes? Of course, we would all like to give plenty of money to good causes, but it is not within the company's objectives. The company is not generating a profit at the moment, so out of what pot of reserves will it make such a payment for 2007 and subsequent years if profits are not made?