Source · National Audit Office
The £13 billion sale of former Northern Rock assets
Published: 19 Jul 2016
Type: Value for Money
The disposal of former Northern Rock mortgages and loans in 2015 was the government’s largest ever financial asset sale. When judged against the Government’s objective to shrink the balance sheet swiftly the deal was value for money.
Public Accounts Committee follow-up
The Public Accounts Committee examined this NAO report and published its own recommendations. The government responds to PAC recommendations via Treasury Minutes.