Alistair Darling Biography

Alistair Darling suggests the Government is planning a 100,000 pounds guarantee to cover all savers

Appointed Secretary of State for Work & Pensions

Network Rail assumes ownership and management of the national rail infrastructure.

Panicked Northern Rock savers rush to empty their accounts as shares in the bank plummet

Panicked Northern Rock savers rush to empty their accounts as shares in the bank plummet

In an unprecedented move, the Chancellor says the Government will guarantee all savings of Northern Rock customers

In an unprecedented move, the Chancellor says the Government will guarantee all savings of Northern Rock customers

Darling guarantees existing Northern Rock retail deposits to halt depositor withdrawals.

Alistair Darling suggests the Government is planning a œ100,000 guarantee to cover all savers

Alistair Darling announces that Northern Rock will be nationalised

Darling announces that Northern Rock will transfer into temporary public ownership.

In one of the biggest losses in UK corporate history, RBS reports a pre-tax loss of œ692 million in the first half, after writing down œ5.9 billion on investments hit by the credit crunch

Darling announces capital support, liquidity assistance and guarantees for the banking system.

The Bank of England provides a short-term secured loan of up to 100 million pounds to stricken Icelandic bank Landsbanki "to help maximise the returns to UK creditors". The 37-billion-pound nationallization announcement is the first implementation of a rescue package for banks that was unveiled last week, which made available 50 billion pounds to inject cash into financial institutions in return for shares

The 37-billion-pound nationalization announcement is the first implementation of a rescue package for banks that was unveiled last week, which made available 50 billion pounds to inject cash into financial institutions in return for shares