Lord Myners
Main Page: Lord Myners (Crossbench - Life peer)Department Debates - View all Lord Myners's debates with the HM Treasury
(13 years, 4 months ago)
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Lord Sassoon
My Lords, the overarching aim of any sales process, as well as getting a clear exit, is to obtain best value for the taxpayer. There are of course tensions between that objective and certain methods of sale, and that is precisely what the experts conducting the sale will assess.
Lord Myners
Will the Minister confirm that best value will not have been achieved if Northern Rock is sold for less than the assets of the bank shown in its accounts?
Lord Sassoon
No, I will not confirm that to the noble Lord. The best value will be obtained for the taxpayer by conducting an exemplary sales process that explores all the options out there for the bidders. In the light of a transparent and competitive process, the best value will be obtained.