TRANSFER OF CASH ISAS

Early day motion 1108, tabled 16 March 2010 by Gregory Campbell (DUP). Signed by 38 members.

That this House notes the continuing problems being faced by those savers who depend on interest from their savings, often as a small supplement to their retirement income; recognises that some large financial providers have begun to offer inflation-beating cash ISAs but have restricted these products to new savers; and calls on those banks and others to review their decision to refuse existing savers the option of transferring their ISAs, which in quite a few instances makes the difference between a savings return which is slightly above inflation and one which is below, thus leading to the erosion of the real value of the capital of the saver.

Signatures by party: Labour 18, Liberal Democrat 7, DUP 5, Conservative 2, Scottish National Party 2, Social Democratic and Labour Party 2, Independent 1, Plaid Cymru 1.