Stewart Malcolm McDonald
Main Page: Stewart Malcolm McDonald (Scottish National Party - Glasgow South)Department Debates - View all Stewart Malcolm McDonald's debates with the HM Treasury
(7 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Hammond
Following the announcement at Budget 2016, UK Asset Resolution Limited has launched a programme of sales of the Bradford & Bingley mortgage assets that it holds. That will be designed to raise sufficient proceeds to repay the £15.65 billion debt to the Financial Services Compensation Scheme and, in turn, the corresponding loan from the Treasury. It is expected, subject to market conditions and ensuring value for money, that this programme of sales will have been concluded in full by the end of 2017-18.
Stewart Malcolm McDonald (Glasgow South) (SNP)
The Government gave £5 million in funding for the refurbishment of the Burrell collection in my constituency, with the money coming from cash collected from the LIBOR scandal. Will the Chancellor consider a similar funding scheme for Holmwood house in my constituency, given that it is the bicentenary of the architect’s birth next year and it needs some TLC?
Mr Hammond
I am glad that at this stage of the process before the autumn statement, I am able to say that all submissions will be carefully considered, and if the hon. Gentleman would care to let me have something in writing, I will happily look at it.