Saving Gateway Accounts Bill

I support this amendment, but with one caveat. The principal reason for my support is that if there is, as I suspect there will be, a paucity of providers, one of the things that this review could look at is whether there are any ways in which the scheme’s mechanism could be changed to make it more attractive to providers. That aspect will potentially be valuable. My preference would be for the review to take place significantly earlier than the noble Baroness suggests, because this legislation is slightly different from other Bills that we have considered when we have looked for a review after a certain period. For example, in the Banking Act, the expectation was, and I hope still is, that it will not be regularly used and, therefore, one could specify a certain period. In this case, my concern is that there will be a very small number of providers and that, at the end of year one or two, the whole scheme could be, if not in disarray, far less effective than we all want, for that reason if no other. If we are to have such a review, I would prefer that we brought it forward, possibly to the end of year two. Equally, I would give the reviewer less than a year to produce his results.