Skip to main content

Building Societies and Mutual Societies

Question for Treasury

UIN 187132, tabled on 26 April 2021

To ask the Chancellor of the Exchequer, whether an assessment was made on the effect of the demutualisation of building societies and financial mutuals on the events leading up to the financial crash in 2007-08; and if he will make a statement.

Answered on

28 April 2021

The Government recognises the vital importance of having a strong and stable financial system. The Government also recognises the value that building societies and other mutually-owned organisations bring to the financial services sector.

The Government has not made a specific assessment on the effect of the demutualisation of building societies and financial mutuals on the events leading up to the financial crash in 2007-08.

Answered by

Treasury