Dormant Bank and Building Society Accounts Bill [Lords]

Most legislation takes several months to pass through all the stages in both Houses, and in the time that we have talked about dormant accounts, the banking sector has changed beyond all recognition and we now have a rather large number of semi-dormant banks. Nevertheless, the legislation is important in its own right, and it is good that it was studied in such detail in both Houses. I pay tribute to those in the other place for getting the ball rolling. It is exactly the type of Bill that lends itself well to beginning in the other place because of the range of expertise available there and the fact that it is traditionally less partisan in its outlook than this Chamber. None the less, the deliberations we had in this Chamber and in Committee have been useful, and I congratulate the Minister on his constructive outlook and on seeking to be more accommodating than some Ministers have been on other occasions with regard to the provisions and proposals advanced by Members of other political parties and by those on their own Back Benches. I echo the sentiments of the hon. Member for Fareham (Mr. Hoban) in that I would have preferred some of the amendments made to the Bill in the other place to have remained, rather than seeing them removed in Committee, but the Bill has nevertheless been scrutinised in some detail, and my party, along with all other parties welcome it. It is well-designed legislation that will, I hope, achieve the objective we all share. I echo the point made by other hon. Members that we should not forget that the money in question belongs to private individuals. They have chosen not to touch it, either wittingly or unwittingly for a long period of time, but I do not want the state to regard it as its role to confiscate the money of private individuals. It was important that we made sure that there was detailed consideration of the provisions for reuniting people with their funds, and I am pleased that the Minister and others took those issues seriously. I hope that the review we have agreed on this evening ensures that, as it becomes a reality across the country, any problems in the legislation will be ironed out. Finally, the Bill's objectives are entirely laudable, and all of us—looking around the Chamber, I see people from urban, inner-city constituencies and those who represent rural areas in far-flung parts of the country—see a need in our constituencies to ensure that young people are engaged by projects that stimulate them and that ensure that they can play a full role in society. I know that the Bill envisages money being spent in different areas, but there is a consensus that the main thrust of the legislation will enable more provision to be made for youth facilities. Anyone who plays an active role as a constituency MP will see the benefits of that. I am keen that the money should be additional. I know that it is hard to define in legislation what constitutes additionality, but everyone would feel that the legislation had not achieved its objectives if the money merely displaced projects already funded by the Government. Our deliberations have been positive and constructive. I hope that the scheme that is put in place is effective and that, sooner rather than later, our constituents will see the benefits of our deliberations.