Kaupthing Singer & Friedlander Limited (Determination of Compensation) Order 2008

A slightly misleading answer there from the Minister, who is new to his brief. The guidance under which local authorities place deposits is actually joint guidance from the Treasury and the Department for Communities and Local Government. I know that because my honourable friend Vince Cable and I got that guidance from them, which is why on the ““Today”” programme I was able to challenge the director of the Local Government Association, whom I believe has just been suspended from his job. Since it was involved in the joint guidance, the Treasury should have been aware of the situation and take partial responsibility for it.