The hon. Gentleman has mentioned that two sources of dormant assets may produce the financial flows that we have heard described today, but there are also comparable sums of dormant assets in insurance policies and, in particular, in NS&I. The Treasury Committee recommended that, in respect of equity, NS&I assets should be treated in the same way as those of banks and building societies. The Government have refuted that by saying that NS&I's unclaimed assets are used for the community benefit anyway, but as a quid pro quo for not having its dormant assets liable for this type of activity should not NS&I at least invest much more activity in promoting the existence of arrangements for people to identify whether there are NS&I unclaimed assets to which they might be entitled?
Dormant Bank and Building Society Accounts Bill [Lords]
Proceeding contribution from
David Leslie Taylor
(Labour)
in the House of Commons on Monday, 6 October 2008.
It occurred during Debate on bills on Dormant Bank and Building Society Accounts Bill [Lords].
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480 c50 Session
2007-08Chamber / Committee
House of Commons chamberSubjects
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