Barry Sheerman – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Barry Sheerman on 2015-11-13.

To ask Mr Chancellor of the Exchequer, what discussions he has had with representatives from the Icelandic government on debt owed to (a) UK taxpayers and (b) the public purse by Icelandic banks.

Harriett Baldwin

HM Government officials continue to engage with the Icelandic authorities in order to complete the recovery process from the failed Icelandic banks. In total, £8.64 billion was paid out by HM Treasury to compensate UK depositors of the Icelandic banks Kaupthing, Singer and Friedlander Ltd (KSF), Heritable Bank plc and Landsbanki (Icesave).

All eligible UK retail depositors were fully compensated. To date, the Treasury has recovered £7.71 billion from the three estates. The Government expects to make a full recovery of the outstanding funds from the estates.