MR ADAM APPLEGARTH FORMER CHIEF EXECUTIVE OF NORTHERN ROCK

That this House views with disgust and incredulity the potential pay out of £760,000 to Mr Adam Applegarth, the former Chief Executive of Northern Rock, who presided over the lending policy which bankrupted the bank; and believes that there is no justification for such a payment and that Mr Applegarth should be given the same redundancy package as is likely to be offered to the staff of the bank who are going to lose their jobs because of his incompetence and recklessness.