§ Mr. Martyn JonesTo ask the Chancellor of the Exchequer (1) what assessment he has made of the total amount of assets residing in dormant accounts and intestate estates held by(a) banks, (b) building societies, (c) credit unions and (d) the post office; [92347]
(2) what assessment he has made of (a) the British Bankers Association scheme and (b) the Building Societies Association scheme to assist customers in tracing dormant accounts and intestate estates. [92349]
§ Ruth KellyWe welcome both these schemes. As stated in the discussion document "Next Steps on Volunteering and Giving in the UK", a copy of which has been placed in the Library of the House, we believe that a more comprehensive unclaimed assets scheme for the voluntary and community sector has considerable attractions. We intend to work constructively with the banks, financial institutions and the voluntary and community sector to reach a shared understanding of the assets involved, of how things can be improved and how a comprehensive database might be achieved that would lead to a considerable increase in charities' income.
§ Mr. Martyn JonesTo ask the Chancellor of the Exchequer (1) what plans he has to introduce legislation to place a statutory duty on banks, building societies, credit unions and the Post Office to trace owners of dormant accounts; [92348]
(2) what plans he has to introduce legislation to enable the transfer of assets held in dormant accounts and intestate estates held by banks, building societies, credit unions and the Post Office into an independently managed dormant accounts fund, if the rightful owner or heir is not traced. [92350]
§ Ruth KellyNone.