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Photo of Vincent CableVincent Cable (Deputy Party Leader; Twickenham, Liberal Democrat) | Hansard source | Watch this

That is a helpful correction. However, the point in answer to both Mr. Redwood and Mr. Jones is that we now know that over the past few months the Northern Rock management has refused to accept any individual voluntary arrangements. Northern Rock is the only bank that has refused to do that. It is clearly worried about the security of the people who have been lent to. There have been complaints from the Insolvency Service that that is bad practice and against policy. Northern Rock is the only bank that is taking that extremely aggressive approach towards the people who have borrowed from it, as it is worried about conditions such as those described by the right hon. Member for Wokingham.

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