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Darling schmoozes north-east press after Northern Rock decision

The Chancellor of the Exchequer got on the phone to schmooze local papers in the north east after the Northern Rock announcement last week.

The soon-to-be nationalised bank employs around 6,000 people, many at its base in Labour’s north-east stronghold.

Alistair Darling phoned The Journal in Newcastle and The Northern Echo, Darlington, immediately following the latest announcement on Northern Rock.

He gave interviews to both newspapers in which he sought to reassure savers and Northern Rock employees that the beleaguered bank was in safe hands.

Journal associate editor Peter Montellier said: “I’m 32 years in the business and I’ve never seen anything like that happen before.

“We have a Chancellor so eager to put his case across that he phoned us directly. That allowed us to ask him what we wanted and gauge his answers for ourselves.”

Echo assistant editor Nigel Burton added: “I wasn’t entirely surprised that the interview was offered but I was pleasantly surprised that it was offered so quickly and by how long I got with him.”

The Chancellor refused to comment on how many jobs could be axed in the restructuring of the bank but offered reassurances to savers that Government guarantees on their money remained in place.

Both newspapers splashed with the story in their next edition.

Northern Rock was forced to seek emergency support in September after being hit by the global credit crunch.

After a turbulent four months, in which a number of private sector bidders expressed interest in taking over the bank, the Government announced that it would take control.