Downing Street Says » Northern Rock

» Monday, January 14, 2008

Northern Rock

Asked if the Prime Minister thought that nationalisation of Northern Rock was now inevitable and if so what his message to shareholders would be, the PMS said that the Prime Minister’s and the Government’s views on Northern Rock were well-known and had been stated many times by the Prime Minister and the Chancellor. Obviously we had always made clear that, in terms of Northern Rock’s future, all options were on the table including nationalisation but, as the Chancellor had been saying this morning on BBC Radio Scotland, it remained the Government’s position that we would like to see a private sector solution and that was what the Treasury were continuing to work towards. However, naturally, contingency arrangements were being put in place for a whole range of options, as you would expect.

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