Brexit & EconomyPoliticsBudget 08: Northern Rock will not affect fiscal policy

Budget 08: Northern Rock will not affect fiscal policy

Nationalisation of Northern Rock kept off balance sheet until ruling from ONS

The Treasury claimed it has been possible to exclude the effect of the
nationalisation of Northern Rock from this year’s balance sheet because it is
still awaiting a formal ruling from the Office of National Statistics.

But officials made it clear that UK fiscal policy will not be determined on
the basis of debt figures resulting from an event which would have no long term
effect. Alistair Darling said that would ‘make no sense’.

Related Articles

Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

Brexit Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

4w Alia Shoaib, Reporter
HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

Big Four HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

4w Alia Shoaib, Reporter
Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

Budget Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

2m Emma Smith, Managing Editor
Spring Statement live feed

Budget Spring Statement live feed

2m Emma Smith, Managing Editor
Spring Statement 2018: 5 things to look out for

Brexit & Economy Spring Statement 2018: 5 things to look out for

2m Alia Shoaib, Reporter
Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

Politics Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

4m Emma Smith, Managing Editor
David Davis, Secretary of State for Exiting the European Union

Brexit & Economy David Davis, Secretary of State for Exiting the European Union

4m Alia Shoaib, Reporter
Philip Hammond, Chancellor of the Exchequer

Brexit & Economy Philip Hammond, Chancellor of the Exchequer

4m Alia Shoaib, Reporter