Asked if the Prime Minister was embarrassed about newly nationalised Northern Rock s approach to property repossessions, the PMS replied that Northern Rock had released a statement refuting any suggestions that they had adopted an overly aggressive stance to repossession. This was a matter for Northern Rock; as we had made consistently clear, the company was being run as a commercial institution a...

The European commission is threatening to veto the UK government's revised remit for Northern Rock, the mortgage lender which was nationalised last year. Neelie Kroes, the EU competition commissioner, and her senior officials believe that the Treasury's move to extend the 2011 deadline for Northern Rock to repay its debts to the taxpayer, increase its lending activities and take on more ...

Asked if the Prime Minister thought that it was appropriate for Northern Rock to give bonuses to their staff, the PMS said this was a decision taken by Northern Rock and, as Northern Rock had been explaining, these were not payments for senior executives, but for normal members of staff. Northern Rock was ahead of schedule in terms of repaying its loan, which was an important priority for the bank...

NORTHERN ROCK PROTEST - STOP THE REPOSSESSIONS! 11am Saturday November 1. Northern Rock, 1 Princess Street, Albert Square , Manchester Protestors are gathering outside Northern Rock’s Manchester HQ to campaign against Northern Rock’s policy of repossessions on a scale twice as fast as any other bank in the country. Supporters of the Convention Of The Left which has organised the protes...

Commenting on the announcement that the Government is converting £3.4bn of its loan to Northern Rock into ordinary shares, Liberal Democrat Shadow Chancellor, Vince Cable said: "Alistair Darling assured Parliament that taxpayer loans to Northern Rock would be fully secured on mortgage assets. This is clearly not true. "£3.4bn of the Government’s loan to Northern Rock is now being...

George Osborne has announced that the Coalition Government plans to scrap child benefit payments for families where one or both parents is a higher rate taxpayer. Child benefit is currently paid to families (normally to the mother) where any children are under 18. It isn’t a means tested benefit: you have to apply and show

A TOTAL of 7.8 million families in the UK receive child benefit, with £20.30 a week for the eldest child, and £13.40 for every other child.

I see that Northern Rock, the failed bank nationalised by the State, has performed as one might expect from such a tax-payer institution and lost half a £billion in the first six months of 2008. The government has responded to this in true blue form - and handed over ANOTHER 3billion to the Rock. This is on top of the 26billion it cost the UK taxpayer to take over this crock of a rock last y...

Northern Rock was essentially the start of the credit crisis in the UK (though before they imploded the Germans had to rescue some banks, as did the Americans). In August 2007 the credit markets froze, and Northern Rock, which funded itself through the money markets, found itself in trouble. They approached the BoE for a loan, and the bank disclosed this, causing a run on the bank as excitable

Northern Rock is set to resume lending with up to £14 billion in new mortgages by 2011, the government has announced.