Building Societies and Mutual Societies

(asked on 26th April 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether an assessment was made on the effect of the demutualisation of building societies and financial mutuals on the events leading up to the financial crash in 2007-08; and if he will make a statement.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 28th April 2021

The Government recognises the vital importance of having a strong and stable financial system. The Government also recognises the value that building societies and other mutually-owned organisations bring to the financial services sector.

The Government has not made a specific assessment on the effect of the demutualisation of building societies and financial mutuals on the events leading up to the financial crash in 2007-08.

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