So the Government is, after all, to bring Northern Rock into temporary public ownership. The Chancellor admits that the other alternatives just don’t offer the best value to the taxpayer, while nationalisation will keep Northern Bank’s customers’ money safe.
It’s tempting for oppositions to criticise the Government of the day whatever they do. On Northern Rock, there’s been plenty to criticise. This time the Treasury has made the right decision. Which is why it’s the option Vince Cable and the Liberal Democrats have been advocating throughout.
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