Sky News

The video discusses the financial crisis of Northern Rock, which required a government bailout, making UK taxpayers temporary bank owners. The Chancellor plans to sell the bank to recover some taxpayer money, with the sale process being open and transparent. Northern Rock was split into a good and bad bank, with the good bank set for auction. Although the sale may result in a loss, the remaining government-owned assets could yield future profits. The timing of the sale has faced criticism, but it may restore regional pride.

What was the defining moment of the credit crunch mentioned in the text?

What assets are included in the sale of the good bank?

How much money did the government invest in Northern Rock last year?

What is the expected outcome for the taxpayer from the sale of the good bank?

What is George Osborne being accused of regarding the sale of Northern Rock?