HC Deb 18 December 1996 vol 287 cc761-2W
Mr. Tom Clarke

To ask the Secretary of State for Social Security what meetings he has had with Ministers outside his Department to ensure that investors with severe disabilities, whose account is managed by a third party, will benefit from payments to long-standing members by building societies planning to convert to listed companies next year. [9196]

Mr. Burt

I have been in contact with my hon. Friend the Economic Secretary about this complex and difficult issue. In addition, departmental officials have had a number of meetings with representatives of the various building societies that have announced their intention to convert to banks.

Ms Lynne

To ask the Secretary of State for Social Security when the Minister of State for Social Security and Disabled People expects to reply to the letter from the chairman of the National Disability Council concerning the council's meeting of 21 November on bonus shares and cash payments from building societies; and if he will place a copy of his reply in the Library. [9322]

Mr. Tom Clarke

To ask the Secretary of State for Social security if he will publish in theOfficial Report the text of the letter sent to the Minister for Social Security and Disabled People by the chairman of the National Disability Council following the meeting of the council on 21 November; and what reply he sent to the letter. [9195]

Mr. Burt

Yes. I will respond in due course to the letter and will arrange for it to be published in theOfficial Report.

Following is the information:

BUILDING SOCIFTIES The Council considered the issue of discrimination against disabled people in the distribution of bonus shares and cash payments on the floatation of building societies at its meeting on 21 November. It is of the view that the current proposals for the flotations would leave many disabled people, who are not first named on their accounts, at a considerable disadvantage over their first named counterparts. Notwithstanding the technical legal arguments, it considers these arrangements to be discriminatory and totally unacceptable. It believes that the Alliance and Leicester and Halifax Building Societies should be urged to reconsider their position and to put forward proposals which would have the effect that disabled people would not be worse off than other members of the building societies. If necessary, the Government should bring forward legislation to facilitate these changes and ensure that similar problems do not arise again. The Council is prepared to continue discussion with the societies concerned in order to identify a solution.