Universal Bank

HC Deb 07 November 2001 vol 374 cc261-2W

Mr. Waterson

To ask the Secretary of State for Trade and Industry if she will make a statement on progress on the universal bank. [12589]

Mr. Alexander

Progress is being made on the detailed implementation for universal banking services and they remain on schedule for introduction when benefit payment migration begins in 2003.

Dr. Cable

To ask the Secretary of State for Trade and Industry what the respective responsibilities are of her Department and the Department for Work and Pensions in relation to the universal bank. [12389]

Mr. Alexander

My right hon. Friend the Secretary of State for Work and Pensions is co-ordinating the work to modernise the payment of pensions, benefits and tax credits along with the introduction of universal banking services. The DTI retains shareholder responsibility for Consignia and responsibility for sponsorship of the post office network.