Parliamentary search - Dormant Bank and Building Society Accounts Bill [Lords]

Reference

480 c39-103

Session

2007-08

Department

Treasury

Proceeding contributions

Mark Todd | 480 c66-7 (Link to this contribution) I rise to speak as a member of the Treasury Committee, whose report has already been the subject of ...

Simon Hughes | 480 c67 (Link to this contribution) I understand the dilemma involving the voluntary and the non-voluntary option, but is not one argume...

Show all contributions (95)

Simon Hughes | 480 c65 (Link to this contribution) These are important points to explore, but does my hon. Friend accept that the reason for the inclus...

Jeremy Browne | 480 c65-6 (Link to this contribution) I am grateful for my hon. Friend's intervention and I recognise the need to give discretion to Admin...

Colin Breed | 480 c70 (Link to this contribution) As a member of the Select Committee, I share the hon. Gentleman's views. We came to similar conclusi...

Mark Todd | 480 c70 (Link to this contribution) The hon. Gentleman is absolutely right, but the service is still a surrogate. I do not think that th...

Simon Hughes | 480 c70 (Link to this contribution) In the hon. Gentleman's work on the Select Committee or elsewhere, did he come to the conclusion tha...

Mark Todd | 480 c67-70 (Link to this contribution) I shall come to that and suggest some other problems that undoubtedly arise. The Committee struggle...

Julie Kirkbride | 480 c72-3 (Link to this contribution) I apologise for not having been able to be present for all of the debate so far. Parliamentary busin...

Mark Todd | 480 c70-2 (Link to this contribution) That is a fair point. The hon. Gentleman is an ex-banker, although he does not shout about that quit...

Tom Levitt | 480 c74-5 (Link to this contribution) It is a pleasure to follow the hon. Member for Bromsgrove (Miss Kirkbride), who began in the style o...

Tom Levitt | 480 c75 (Link to this contribution) I think my hon. Friend is going to tell me he has the same number in his constituency.

Mark Todd | 480 c75 (Link to this contribution) I am not. What I have to say demonstrates that this must be based on real data about real people, be...

Tom Levitt | 480 c75-7 (Link to this contribution) That is interesting, and it does not reflect well on the people of the northern part of Derbyshire w...

Lord Risby | 480 c77-80 (Link to this contribution) It is very good to follow the hon. Member for High Peak (Tom Levitt). There is clearly a particular ...

Tom Levitt | 480 c81 (Link to this contribution) Towards the end of my contribution I pointed out that the BLF's overheads are about 9.1 per cent., w...

Lord Risby | 480 c80-1 (Link to this contribution) I am grateful to the hon. Gentleman for making that point, and I am glad that he agrees with me. Peo...

Martyn Jones | 480 c56 (Link to this contribution) There is a distinct possibility that that is happening, and not just with Santander. I will not ment...

Robert Flello | 480 c56 (Link to this contribution) My apologies to the House for the fact that other business has kept me from the Chamber on and off t...

Martyn Jones | 480 c56 (Link to this contribution) As I said, I will touch on one or two issues of that nature. The banks were extremely reluctant to ...

Martyn Jones | 480 c60-2 (Link to this contribution) I am sure that you will not allow me to go down that line, Mr. Deputy Speaker. However, I agree with...

Roger Williams | 480 c60 (Link to this contribution) I commend the hon. Gentleman on his work on such matters. He mentioned the Big Lottery Fund. He will...

Jeremy Browne | 480 c62-5 (Link to this contribution) I pay tribute to the hon. Member for Clwyd, South (Mr. Jones), both for his long-standing interest i...

Martyn Jones | 480 c57-8 (Link to this contribution) Absolutely. I am delighted to do so, but there are two separate things that should not be confused. ...

Martyn Jones | 480 c59-60 (Link to this contribution) The hon. Lady misses the point. We do not know how much the banks have, but they will trumpet how mu...

Julie Kirkbride | 480 c58-9 (Link to this contribution) Reflecting on what the hon. Gentleman has just said, surely the banks would be only too pleased to t...

Ian Pearson | 480 c102 (Link to this contribution) I am certainly happy to debate the issue in Committee. Although what the UK is proposing in terms of...

Tom Levitt | 480 c102 (Link to this contribution) My hon. Friend said he had dealt with the last point he raised, but I think the elephant in the room...

Ian Pearson | 480 c102 (Link to this contribution) I do not have the figures immediately to hand, but they certainly are significant. The hon. Member f...

Mark Hoban | 480 c102 (Link to this contribution) On the second reason the Economic Secretary cited, will he say by how much the resources available w...

Ian Pearson | 480 c103 (Link to this contribution) Well, some building societies have, but others have not, and my understanding is that the figure of ...

Martin Horwood | 480 c102 (Link to this contribution) I am sure the Economic Secretary is right that the building societies support the principle of the B...

James Duddridge | 480 c90-2 (Link to this contribution) The hon. Member for Cheltenham (Martin Horwood) makes a powerful case on behalf of mutuals, but his ...

Martin Horwood | 480 c87-90 (Link to this contribution) I rise to defend the good name and judgment of mutual building societies and, in particular, the Lor...

Charles Walker | 480 c84-7 (Link to this contribution) It is wonderful to be back after a long summer recess, and thank God we are back. Let us look at wha...

Brian Binley | 480 c84 (Link to this contribution) I am grateful that you should direct me in that manner, Madam Deputy Speaker. The final statement th...

Speaker | 480 c84 (Link to this contribution) Order. I wonder whether the hon. Gentleman is now going to relate his remarks to the Bill that we ar...

Brian Binley | 480 c81-4 (Link to this contribution) May I welcome the Minister to his new position? I hope that we do not burden him too much on his fir...

David Gauke | 480 c93-6 (Link to this contribution) It is a pleasure to wind up this Second Reading debate, but before I deal with the points raised dur...

Ian Pearson | 480 c96-7 (Link to this contribution) This has been an interesting and wide-ranging debate covering many significant matters in the Bill, ...

Charles Walker | 480 c92 (Link to this contribution) The problem with the Big Lottery Fund is that its name is a bit of a misnomer. Over the past five to...

James Duddridge | 480 c92-3 (Link to this contribution) I now understand what my hon. Friend is saying. He is not trying to say that it is not the Big Lotte...

Mark Hoban | 480 c99 (Link to this contribution) I ask the Minister again: will the Treasury have the power to tell the reclaim fund to pass more mon...

Ian Pearson | 480 c98-9 (Link to this contribution) We are very clear that we want the reclaim fund to be a success. It will be for the reclaim fund to ...

Mark Hoban | 480 c99 (Link to this contribution) So that is yes.

Ian Pearson | 480 c99 (Link to this contribution) We have powers that can be used in exceptional circumstances.

Charles Walker | 480 c97 (Link to this contribution) I have just one brief question. What is a social investment wholesaler, and is there such a thing as...

Mark Hoban | 480 c98 (Link to this contribution) Will the Economic Secretary reassure the House that the Treasury will not have the power, under thes...

Ian Pearson | 480 c97-8 (Link to this contribution) I will indeed clear that matter up in due course. I reiterate the welcome for the constructive spir...

Ian Pearson | 480 c99 (Link to this contribution) I am happy to return to this matter in Committee, but it is important to recognise that the scheme i...

Martin Horwood | 480 c99 (Link to this contribution) According to the National Lottery Act 2006, the Minister should be quite right in condemning some ho...

Ian Pearson | 480 c100-2 (Link to this contribution) I was clear, I hope, that the Big Lottery is a non-departmental public body, independent of Governme...

Yvette Cooper | 480 c40 (Link to this contribution) No, it is not £5 billion; that would be 1 per cent. of £535 billion. I was talking about 0.07 per ce...

Baroness Kramer | 480 c40 (Link to this contribution) The Chief Secretary will be aware that many of these dormant accounts are, in fact, owned by chariti...

Yvette Cooper | 480 c40 (Link to this contribution) I hear the point that the hon. Gentleman is making. First, the Bill will not come into force until n...

Peter Bone | 480 c40 (Link to this contribution) Will the Minister confirm that that figure is £5 billion, which is not chickenfeed? Can she tell us ...

Yvette Cooper | 480 c41 (Link to this contribution) I recognise my hon. Friend's point, but the scheme that we are proposing has strong support from the...

James Duddridge | 480 c41 (Link to this contribution) How confident is the Minister in the figures provided by the British Bankers Association and the Bui...

Yvette Cooper | 480 c40-1 (Link to this contribution) The hon. Lady is right that we should do everything possible to reunite the money with the original ...

Tom Levitt | 480 c41 (Link to this contribution) My right hon. Friend has three times mentioned that the scheme will be voluntary. Is she aware that ...

Yvette Cooper | 480 c39 (Link to this contribution) I beg to move, That the Bill be now read a Second time. I thank my hon. Friend the Member for Burnl...

Lord Maples | 480 c39-40 (Link to this contribution) The point that I was making earlier was that, although the Bill is well conceived—I have no objectio...

Yvette Cooper | 480 c46 (Link to this contribution) My hon. Friend makes an important point. We want to ensure that the resources are distributed fairly...

Martin Horwood | 480 c46 (Link to this contribution) Is not the Chief Secretary being a little disingenuous when she talks about the vast majority of bui...

Yvette Cooper | 480 c46 (Link to this contribution) I will, for the last time. I want other Members to have a chance to speak.

Tom Levitt | 480 c46 (Link to this contribution) I am grateful to my right hon. Friend for giving way, and also for her answer to my hon. Friend the ...

Tom Levitt | 480 c46 (Link to this contribution) Will my right hon. Friend give way?

Yvette Cooper | 480 c45 (Link to this contribution) Clearly the Treasury is always accountable to Parliament for the use of its powers, but I think we s...

David Drew | 480 c45-6 (Link to this contribution) I welcome the boost that the scheme will give youth services, but what many of those services need i...

Yvette Cooper | 480 c44-5 (Link to this contribution) The banks set up the new ““mylostaccount”” website in January this year which has helped more than 1...

Mark Hoban | 480 c45 (Link to this contribution) The Chief Secretary spoke of reversal of the Lords amendment relating to the parliamentary accountab...

Julie Kirkbride | 480 c44 (Link to this contribution) It is important to remember that the money does, or did, belong to someone and that some of it might...

Yvette Cooper | 480 c44 (Link to this contribution) We have not so far seen the need to include additional support. Obviously, we are happy to consider ...

Graham Stuart | 480 c44 (Link to this contribution) The National Consumer Council has said that not enough effort is made by banks to reunite dormant ac...

Simon Hughes | 480 c43 (Link to this contribution) I am very supportive of the proposal in the Bill, not least because many of my constituents and orga...

David Leslie Taylor | 480 c43 (Link to this contribution) It is important not to double count in relation to the possible impact on charities in constituencie...

Yvette Cooper | 480 c43 (Link to this contribution) I do not believe that the measure will reduce the amount that banks and building societies can contr...

Yvette Cooper | 480 c42 (Link to this contribution) We have said that we view 15 years as the appropriate period, so it is not our intention to reduce t...

John Butterfill | 480 c42 (Link to this contribution) I must declare an interest as a trustee of a number of charities. In particular, the People's Dispen...

Yvette Cooper | 480 c47 (Link to this contribution) I do not think this is remotely about taking away the independence of the building societies. The bu...

David Leslie Taylor | 480 c50 (Link to this contribution) The hon. Gentleman has mentioned that two sources of dormant assets may produce the financial flows ...

Mark Hoban | 480 c47-9 (Link to this contribution) It has been six years since the Government first raised the prospect of using money from dormant acc...

Mark Hoban | 480 c50-1 (Link to this contribution) The hon. Gentleman makes two important points, the second of which I shall deal with first. NS&I has...

Simon Hughes | 480 c52 (Link to this contribution) I am sure that the hon. Gentleman will accept that although, of course, money is available from the ...

Mark Hoban | 480 c51-2 (Link to this contribution) I think that the Government went through a consultation process. It will be interesting to see just ...

Martyn Jones | 480 c54-6 (Link to this contribution) I congratulate the Chief Secretary on introducing the Bill to the House. As someone who has been cam...

Mark Hoban | 480 c52-3 (Link to this contribution) The hon. Gentleman may well be right that that funding is not a statutory responsibility, but in a w...

Colin Breed | 480 c56 (Link to this contribution) On the basis that this is a voluntary scheme, does the hon. Gentleman believe that the bank Santande...

Martin Horwood | 480 c80 (Link to this contribution) I have a lot of sympathy for what the hon. Gentleman is saying, because I recall exactly the same po...

Yvette Cooper | 480 c42-3 (Link to this contribution) We think that the Big Lottery Fund is the appropriate organisation. It is important that we use an e...

Lord Risby | 480 c81 (Link to this contribution) The costs of salaries, administration and all the rest are too high, irrespective of what the hon. G...

Yvette Cooper | 480 c46 (Link to this contribution) My hon. Friend is right. We need to ensure that the funds are used to provide sustainable support fo...

Yvette Cooper | 480 c43 (Link to this contribution) Treasury Ministers will be happy to meet the hon. Gentleman to discuss his point further. Obviously,...

Brian Binley | 480 c57 (Link to this contribution) Barclaycard, I am happy to say, is based in my constituency. Its record on charitable giving, partic...

Pete Wishart | 480 c51 (Link to this contribution) Would the hon. Gentleman like to congratulate the Scottish Government on the way in which they appro...

Subjects

Charities

Assets

Bank services

Banks

Building societies

Finance

Liability

Investment

Insolvency

Young people

Wills

Big Lottery Fund

Balance Charitable Foundation for Unclaimed Assets

National Savings and Investments

Legislation

Dormant Bank and Building Society Accounts Bill (HL) 2007-08

Contains statistics

Yes

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Dormant Bank and Building Society Accounts Bill [Lords]

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