HC Deb 19 February 1987 vol 110 c1123
Mr. Ian Stewart

I beg to move Government amendment No. 43, in page 44, line 17, leave out '£10,000' and insert '£20,000'.

Mr. Deputy Speaker

With this it will be convenient to take the following:

Amendment No. 44, in page 44, line 17, leave out '£10,000' and insert 'in full of £30,000, and then 90 per cent. of the balance between £30,000 and £50,000'.

Government amendment No. 45.

Mr. Stewart

These amendments increase the amounts of a protected deposit under banking legislation from £10,000 to £20,000. The figure for deposit protection under the Banking Act should be reviewed from time to time. Although such a change can be made at any time by statutory instrument, I am persuaded by the debate in Committee and by consideration of the case that the passage of a new Banking Bill offers a convenient occasion to do it. The change will give increased protection to depositors with banks. I hope that in that sense it will be welcomed by the House. I am also proposing to increase the limits on protective deposits with building societies to £20,000 at the same time.

Amendment agreed to.

Amendment made: No. 45, in page 44, line 29, leave out '£10,000. and insert '£20,000'.—[Mr. Ian Stewart.]

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