Topical question asked in the House of Commons, by Willie Rennie (Liberal Democrat). It was answered on Tuesday, 15 December 2009 on behalf of the Treasury.

Topical Questions

Question: I understand that the total cost for the administrators, lawyers and consultants to clear up after the Government break-up of the Dunfermline building society is approaching £26 million. Who was representing the taxpayer's interests when such outrageous fees were agreed for such a small building society?

Answer: I am not sure that I recognise those figures, although I will certainly write to the hon. Gentleman as soon as we have the final figures. However, there is a broader point to be made in relation to Dunfermline building society. It would have been nice if we had not been put in that position in the first place, but unfortunately that building society got itself into difficulties and they had to be resolved. That is precisely what we did. Both the hon. Gentleman and I would have liked the Dunfermline to continue as an independent building society. That was not possible, but the reason was that it got itself into difficulties and we had to sort the problems out.

Secondary information