Dormant Bank and Building Society Accounts Bill [Lords]

Part of Orders of the Day – in the House of Commons at 8:24 pm on 6 October 2008.

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Photo of Martin Horwood Martin Horwood Shadow Minister (Environment, Food and Rural Affairs) 8:24, 6 October 2008

I am sure the Economic Secretary is right that the building societies support the principle of the Bill, but they have fairly consistently objected to the £7 billion threshold applying to them whereas banks have not. Therefore, can he remind us of this: why £7 billion?