Written Question·Treasury·UIN 869

Northern Rock: Nationalisation

Tabled: 22 July 2024

Answered: 29 July 2024

Question

Sir John Hayes

Conservative — South Holland and The Deepings

To ask the Chancellor of the Exchequer, if she will take steps to help compensate small shareholders impacted by the nationalisation of Northern Rock PLC.

Answer

Tulip Siddiq

An independent valuer determined that Northern Rock shares were of no value immediately prior to the company being taken into public ownership, and therefore no compensation was due. This independent valuation was upheld in the both the Upper Tribunal in ...

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