Can we relax a bit now re £50,000 FSA cover?

zzzLazyDaisy

treecity wrote: »

What I want to know is what happened the the mentioned £100K limit? Or did I just dream about that?!

If you did, I had the same dream! Anyone know about this?

Edit http://www.timesonline.co.uk/tol/news/politics/article2508003.ece I suspect that this was watered down to the £50k guarantee that is now in place?

Re the current limits - my feeling (for what it is worth - but don't rely on anything I say!!) is that Lloyds TSB is unlikely to go under because it is 43% state owned. That went up to 65% at one point, but some of the Govt money was paid back, however I am confident that if they got into further difficulties the Govt would bail them out again rather then let them go under. Not only because they are a major high street name, but also because before they were persuaded by the Govt to get involved with the HBOS fiasco, they were doing just fine.

Or maybe I am just kidding myself because I like their products....

Oblivion

Sceptic001 wrote: »

Not much, but my guess is that the British government would step in to rescue savers in the case of the Post Office...(fingers crossed)

Would this be the same 'British government' that is so keen to close post offices? :rolleyes:

Dave.

Oblivion

treecity wrote: »

What I want to know is what happened the the mentioned £100K limit? Or did I just dream about that?!

I believe it was a figure that Alastair Darling let slip whilst being interviewed shortly after the Northern Rock collapse during a frantic bid to reassure savers that the government was on the case. As with most statements made by Labour politicians, it has turned out to be totally vacuous. :mad:

Dave.

kostigovs

I think the increased limit of £100K is still in the Government pipeline and will be announced nearer the end of this year/early next year

treecity

kostigovs wrote: »

I think the increased limit of £100K is still in the Government pipeline and will be announced nearer the end of this year/early next year

Is that a legally binding statement you just made?

Would be great but I will be amazed if it happens.

zzzLazyDaisy

kostigovs wrote: »

I think the increased limit of £100K is still in the Government pipeline and will be announced nearer the end of this year/early next year

Do you have a link, please? I have searched and can't find anything apart from old 2007 reports, which seem to have been forgotten. Thanks.