On the 1st of October 2007 Alistair Darling raised the protection on deposits in banks and building society to ?35,000 not approximately 32,000 if you got this information from the web site you provided a short cut to I suggest you avoid that website I had a look at it and I was not impressed.
He did want to raise the protection to ?100,000 but the city objected.
The details are on www.moneyweek.com
savings interest
AS Chancellor of the exchequer,Darling could have raised the level to ?100,000 if he had wanted to as his government still has an extensive majority in Parliament.Thats where budget bills are debated and moved on to the statute book,which is law.The city objects to everything from changes in capital gaind tax to Non doms tax but they only managed miniscule changes to the new taxes.Darling did not want to insure every bank account up to ?100,000 as it took government liability into an unachievable level.He is already commited to guaranteeing NR for ?100 billion
Please also be advised that Offshore banks in IOM or Jersey are not covered by the ?35K government insurance even if their name is Barclays or Halifax Bank of Scotland.
Finally if you are looking for an 100% safe as houses bank to deposit your money then its Northern Rock Guernsey.Its liabilities are covered by our wonderful government so the parent Bank NR uk cannot go bust so its offshore subsidary is safe as well.Up till last month it was offering really good rates.Digger
Please also be advised that Offshore banks in IOM or Jersey are not covered by the ?35K government insurance even if their name is Barclays or Halifax Bank of Scotland.
Finally if you are looking for an 100% safe as houses bank to deposit your money then its Northern Rock Guernsey.Its liabilities are covered by our wonderful government so the parent Bank NR uk cannot go bust so its offshore subsidary is safe as well.Up till last month it was offering really good rates.Digger
Hey first post in one year and second correction.
Governmement liability on NR exceeds ?100 billion now as I stated in first post.Its a huge amount of Dosh when one appreciates that total uk budget last year was in the region of ?290 billion.The money must have come from BOE reserves if any is left after Mcbroon sold most of gold off in early nineties for $260 plus or minus a troy ounce but NR is paying interest on this amount,but I digress,posters have bandied around 2 figures for insured investment. I think the NGO that guarantees bank deposits with tax payers money,actually will reumerate 100% of the first ?32k and a percentage of a further amount to a max renumeration of ?35k regardless of how much money you have in the account.
Banks most susceptible to credit crunch due to an inbalance of depositors against borrowers are Alliance and Leicester and Bradford and Bingley .Bank holding most mortgage debt is HBOS,halifax bank of scotland but I use them big time as I think the government would collapse if they went to the wall.Banks with least exposure to bad debt probably HSBC and RBS which includes Nat West.UKs largest Bank barclays so probably pretty safe.
Governmement liability on NR exceeds ?100 billion now as I stated in first post.Its a huge amount of Dosh when one appreciates that total uk budget last year was in the region of ?290 billion.The money must have come from BOE reserves if any is left after Mcbroon sold most of gold off in early nineties for $260 plus or minus a troy ounce but NR is paying interest on this amount,but I digress,posters have bandied around 2 figures for insured investment. I think the NGO that guarantees bank deposits with tax payers money,actually will reumerate 100% of the first ?32k and a percentage of a further amount to a max renumeration of ?35k regardless of how much money you have in the account.
Banks most susceptible to credit crunch due to an inbalance of depositors against borrowers are Alliance and Leicester and Bradford and Bingley .Bank holding most mortgage debt is HBOS,halifax bank of scotland but I use them big time as I think the government would collapse if they went to the wall.Banks with least exposure to bad debt probably HSBC and RBS which includes Nat West.UKs largest Bank barclays so probably pretty safe.