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Bradford and Bingley

Question for HM Treasury

UIN 59051, tabled on 9 January 2017

To ask Mr Chancellor of the Exchequer, if his Department will investigate the collapse of Bradford and Bingley plc in 2008.

Answered on

12 January 2017

The Government has no plans to conduct an investigation into the collapse of Bradford and Bingley plc in 2008.

The National Audit Office concluded in its report of 4 December 2009 that the public support provided to the UK’s banking system by the Treasury was justified, given the scale of both the economic and social costs if one or more major banks had collapsed. In providing that support, the Treasury met two of the Government’s principal objectives, namely maintaining financial stability and protecting retail depositors.

Answered by

Treasury