Business of the House

Baroness Burt of Solihull Excerpts

Thursday 23rd June 2011 Commons Chamber

[Sir George Young]

As the hon. Gentleman was good enough to concede, this problem has been going on for some time. There will be an opportunity to raise it with Defence Ministers on 4 July. In the meantime, I will remind my right hon. Friend the Secretary of State for Defence of the concern that this matter remains outstanding and urge him to do all he can to bring it to a satisfactory conclusion.

[Lorely Burt (Solihull) (LD)]

My hon. Friend the Member for Bristol West (Stephen Williams) and, this morning, the Deputy Prime Minister are calling for shares in Northern Rock and Lloyds, which we substantially own, to be distributed to the British people. Given the interest in this proposal, may we please debate it on the Floor of the House?

[Sir George Young]

Indeed, that is one of a number of options. I think the reference was to Lloyds and HBOS, as I think a Treasury statement about Northern Rock was made last week. It is important to have an open debate about the options available to the Government when the time is right for transferring these banks to the private sector. I cannot promise an immediate debate, but I am sure there will be opportunities, perhaps in the remaining stages of the Finance Bill, to deal with it.