Election 2010: Northern Rock re-mutualisation branded "crazy"

clock

The chair of the All Party Parliamentary Insurance and Financial Services Committee has described Labour proposals to re-mutualise Northern Rock as "crazy".

The attack formed John Greenway's final parting shot after almost two decades in the post, but is not the only part of the Government's policy to come in for criticism. Greenway, Conservative MP for Ryedale, is standing down at the upcoming Election due to boundary changes and local party differences, having represented the Yorkshire constituency since 1987. He believes the Government's manifesto plan to re-mutualise the state-owned bank, before yet another expected de-mutualisation, would be a mistake and a further kick in the teeth for its shareholders. "If you are a Northern Roc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Rathbones brings together responsible investment in Centre of Excellence

Rathbones brings together responsible investment in Centre of Excellence

Combines ethical and sustainable research capabilities

Patrick Brusnahan
clock 29 May 2026 • 1 min read
Why active management matters more for income investors

Why active management matters more for income investors

Significant implications for advisers and investors relying on passive income strategies

Rory Sandilands
clock 29 May 2026 • 4 min read
Can the energy crisis power renewables past their headwinds?

Can the energy crisis power renewables past their headwinds?

Renewables continue to see headwinds

Ian Aylward
clock 28 May 2026 • 3 min read