Bank of Credit and Commerce International (Hansard, 22 May 1992)

HC Deb 22 May 1992 vol 208 cc278-9W 279W

§ Mr. Vaz
To ask the Chancellor of the Exchequer what estimate he has made of the cost to public funds of(a) the closure of BCCI and (b) the Bingham inquiry.

§ Mr. Nelson
It is estimated that the total cost incurred by Lord Justice Bingham and his inquiry team will amount to £500,000. This cost will be shared by the Treasury and the Bank of England. The cost to public funds of closing BCCI is included in the administrative and legal costs of the Government Departments concerned and of the Bank of England. To provide an accurate estimate of these costs would involve disproportionate cost.