The government won the vote last night to nationalise the Northern Rock. Although the Lords had tried to make amendments to the bill on grounds that it could put tax payers' money at risk. The Lords did want an independent audit of the bank's books and the dealings to be brought under the Freedom of Information laws as well as an Office of Fair trading review over concerns over giving the bank an unfair competitive advantage. But they had to settle for government guarantees after loosing votes on the first 2 amendments.
The bill is expected to get royal assent today.
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