Ulster Bank

Debate between Lord Sassoon and Lord Alderdice

Thursday 5th July 2012 Lords Chamber

[Lord Sassoon]

My Lords, I agree that the difficulties clearly are continuing. I looked at the Ulster Bank website. I see that it is giving daily updates of the situation and it has been completely clear that it is unlikely that it is going to be fully resolved until around 16 July. I repeat that RBS has made a commitment that no business or individual will be left permanently out of pocket as a result of this. The interpretation of that will no doubt raise the issues which the noble Lord raises.

[Lord Alderdice]

My Lords, the situation for people in Northern Ireland is extremely serious, as my noble friend has said. The noble Lord, Lord McAvoy, has raised the question of those who get benefits, but this nationalised bank run by the Government is also failing to address the needs of those whose salaries and wages are paid in, including from the Government. A number of private sector employers are helping out their employees who find themselves in immediate financial embarrassment during this holiday season. Is there any possibility that the Government, whose own employees are failing to have their salaries and wages paid in, can help in any way in the short term?

[Lord Sassoon]

My Lords, my noble friend makes a very good point. I do not know what arrangements are being made because, again, it is going to be principally affecting employees of the devolved Administration. But I will take that issue back. I am sure it is being thought about by my colleagues in Government but I will remind them of it.