REPORT ON ISA ACCOUNT SWITCHING

Early day motion 363, tabled 30 June 2010 by Gregory Campbell (DUP). Signed by 28 members.

That this House notes the recent report by the Office of Fair Trading (OFT) on delays by individual savings account (ISA) providers in switching funds held by individual ISA holders, leading to millions of pounds of interest being lost annually; commends the group Consumer Focus which initiated the OFT investigation; and calls on banks and building societies now to offer the 17 million ISA account holders more competitive rates of interest rather than the derisory rates which are currently on offer.

Signatures by party: Liberal Democrat 9, DUP 6, Labour 5, Conservative 2, Plaid Cymru 2, Scottish National Party 2, Independent 1, Social Democratic and Labour Party 1.