SAVINGS ACCOUNT RATES FOR CHILDREN

Early day motion 105, tabled 17 May 2005 by Gregory Campbell (DUP). Signed by 23 members.

That this House notes that the Alliance & Leicester with personal customer balances of almost £20 billion and secured mortgage advances of £28 billion which offered a Firstsaver Children's Account with a competitive rate of interest at 5.25 per cent. decided to close the account to all new savers and reduced the interest rate to all existing young customers to just 3.65 per cent.; and regards this decision as deplorable and designed to deter rather than encourage young people and their parents to make personal savings which building societies and former societies should be doing.

Signatures by party: Labour 8, DUP 7, Liberal Democrat 4, Conservative 2, Scottish National Party 1, UUP 1.