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Full Report: Anniversary of Northern Rock collapse

It is five years to the day that the bank Northern Rock was nationalised after getting into financial difficulties.

Since then, part of it has been sold off to Richard Branson.

However, even after all these years small shareholders are still fighting for compensation and claim that they were robbed by the Government.

Watch the full report from Derek Proud below.

Chancellor: "Transfer of Northern Rock added to national debt"

The transfer of liabilities of the Newcastle-based Northern Rock and Bradford & Bingley to the national balance sheet is one of three measures which has had a "significant impact" on the public finances, George Osborne told Parliament in his Autumn Statement - adding £17bn to the national debt.

For further updates see the national ITV News.

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£2billion tax bill for saving Newcastle bank

The cost of saving Northern Rock could cost the tax payer £2billion, according to a report from the Commons Public Accounts Committee.

The Newcastle-based bank got into difficulties in 2007 when it became the first bank in 150 years to suffer a run during the then financial crisis.

The bank, which had its headquarters in the North East, collapsed in 2007
The bank, which had its headquarters in the North East, collapsed in 2007 Credit: ITV

Margaret Hodge, the committee's chair, has said the then Labour government took too long before deciding to nationalise the bank in February 2008.

Northern Rock deal could cost taxpayers £2bn

by Derek Proud

A report by the financial watchdog the National Audit Office says the Government bail out of Northern Rock could cost the taxpayer £2bn.

The Government spent £1.4bn on taking the troubled bank into public hands in February 2008. At the end of last year it sold part of the bank to Sir Richard Branson's group Virgin Money for £747m.

But the National Audit Office says that deal could cost the British taxpayer £480m and the total cost could get as high as £2bn in the long term. Robin Ashby of the Northern Rock Small Shareholders Group says the Government sold it off too soon.

But North East financial analyst Gary Fawcett of Brewin Dolphin said the Government had no choice.

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