Downing Street Says » Northern Rock

» Tuesday, March 18, 2008

Northern Rock

Asked about the Chancellor’s statement on Northern Rock and what it would contain, the PMS replied that it had already been issued.

Asked whether Northern Rock was mentioned in Cabinet and what the Prime Minister was doing for the thousands of people in the North East who could lose their jobs, the PMS said that Northern Rock was mentioned in Cabinet in the context of wider action that was being taken in order to deal with the global financial issues that were affecting every economy. In relation to Northern Rock jobs, as the Chancellor had said in his statement this morning, the Chief Executive of the Regional Development Agency had been asked to lead the Government’s response.

One North East had already begun constructive discussions with Northern Rock and would work with local authorities, Job Centre Plus, Business Link North East, the Learning Skills Council and Northern Rock’s management to coordinate the Government’s support for those involved.

Asked if the Prime Minister had a message for Northern Rock workers, the PMS replied that the Prime Minister’s message was that we were taking action in order to deliver stability in the economy and we were asking the Chief Executive of the Regional Development Agency to coordinate and work with the agencies that the PMS had listed, in order to coordinate support for those affected.

Asked whether the Prime Minister still stood by his assessment that the taxpayer could make a profit form the Northern Rock business plan, the PMS said that he did not think that that was an issue for today.

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Northern Rock

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