§ 2.55 p.m.
§ Lord EzraMy Lords, in the unfortunate absence, due to illness, of my noble friend Lord Banks, I beg leave to ask the Question standing in his name on the Order Paper:
Whether the Government are now ready to publish a Green or a White Paper on their proposals for the future legislative and tax regime for friendly societies, bearing in mind that an internal review on the subject was established in September 1988.
§ Lord EzraMy Lords, I thank the noble Earl for that positive response. However, is he aware of the eagerness with which the friendly societies await a positive response from the Government in this matter which has now been subject to discussion for several months?
The Earl of CaithnessMy Lords, I appreciate the eagerness for the Government response. If the friendly societies would only wait for another 24 hours or so, that will be satisfied.
Lord Bruce of DoningtonMy Lords, will the noble Earl give the House an assurance that the paper will fully take into account the unfair position in which low income depositors with a building society are put as a result of the existing composite rate? Can he give any hope that that injustice will be amended?
The Earl of CaithnessMy Lords, the noble Lord asks a question which is rather tangential to the Question on the Order Paper; but I should not like to commit myself in advance of what is said tomorrow.