Business of the House

The right hon. Gentleman knows very well, because the Chancellor has explained it to the House, that there is arm's length management of Northern Rock. The arrangements for Northern Rock, and what it has been told by the Government, are a matter of public record on which the House has been informed. The right hon. Gentleman knows that individual decisions on lending are made on an application-by-application basis and are not a matter for the Chancellor of the Exchequer.