Cash Ratio Deposits

HC Deb 20 April 1998 vol 310 cc401-2W

Mr. Timms

To ask the Chancellor of the Exchequer if he will make a statement about cash ratio deposits. [39315]

Mr. Darling

The Government's Response to Consultation on Cash Ratio Deposits (CRDs) is published today. Copies have been placed in the Libraries of both Houses. The Government's decision that the initial CRD ratios should be zero on Eligible Liabilities up to £400m and 0.15 per cent. on Eligible Liabilities over £400m reflects the responses to consultation, taking into account the desire for administrative simplicity and clarity. I believe this is a fair outcome.