The Treasury has completed the sale of Bradford and Bingley and NRAM, formerly Northern Rock, for £5bn, after the banks were brought under government control during the financial crisis.
The Treasury sold assets of the old Northern Rock bank without a business case, failed to consider the buyer’s tax domicile and ignored a bank’s conflict of interest, according to a review by the...
Chancellor Philip Hammond has launched a further sale of mortgage assets from the former Bradford & Bingley bank, which was nationalised in 2008 at the peak of the financial crisis.
The credit crunch scored a first this week, the nationalisation of a bank. But behind the scenes it is also having a serious impact on public sector pension schemes and proposed PFI projects. Paul...
