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Savings Summary Box

EDM number 1286 in 2008-09, proposed by Vincent Cable on 02/04/2009.
Categorised under the topic of Financial services.

That this House recognises that recent cuts in interest rates have led to a significant loss of income for many savers; condemns the fact that most savings statements do not clearly indicate the correct current interest rate of the account and that Bank of England interest rates have changed dramatically over the last six months, leaving many savers confused about the level of interest which they are receiving; notes that there is no technical barrier to publishing a bespoke rate; calls on the Financial Services Authority to give savers the same protection as credit card holders by mandating savings account providers to include a savings summary box in every online and paper statement; further calls on the Financial Services Authority to require that this summary box include the current bespoke interest rate, bonus rates including expiry date, penalties for withdrawal and lay out what institution the account is linked to for the purposes of the Financial Services Compensation Scheme; and anticipates that this simple step will greatly improve the transparency of many savings accounts, enabling hard-pressed savers to ensure they are maximising their savings.

This motion has been signed by a total of 75 MPs.

MPDateConstituencyPartyType
Vincent Cable02/04/2009TwickenhamLiberal DemocratProposed
Mike Hancock20/04/2009Portsmouth SouthLiberal DemocratSeconded
Bob Russell20/04/2009ColchesterLiberal DemocratSeconded
Adrian Sanders20/04/2009TorbayLiberal DemocratSeconded
Peter Bottomley20/04/2009Worthing WestConservativeSeconded
Bob Spink20/04/2009Castle PointIndependentSeconded
Nick Harvey20/04/2009North DevonLiberal DemocratSigned
Lynne Jones20/04/2009Birmingham, Selly OakLabourSigned
Willie Rennie20/04/2009Dunfermline and West FifeLiberal DemocratSigned
Colin Breed21/04/2009South East CornwallLiberal DemocratSigned
Martin Caton21/04/2009GowerLabourSigned
Ann Cryer21/04/2009KeighleyLabourSigned
Andrew George21/04/2009St IvesLiberal DemocratSigned
David Taylor21/04/2009North West LeicestershireLabourSigned
Paul Truswell21/04/2009PudseyLabourSigned
John Leech21/04/2009Manchester, WithingtonLiberal DemocratSigned
Stephen Williams22/04/2009Bristol WestLiberal DemocratSigned
Mark Hunter22/04/2009CheadleLiberal DemocratSigned
Mark Williams22/04/2009CeredigionLiberal DemocratSigned
Lynne Featherstone22/04/2009Hornsey and Wood GreenLiberal DemocratSigned
John McDonnell22/04/2009Hayes and HarlingtonLabourSigned
Mark Lazarowicz22/04/2009Edinburgh North and LeithLabourSigned
Paul Holmes22/04/2009ChesterfieldLiberal DemocratSigned
Mark Durkan22/04/2009FoyleSocial Democratic and Labour PartySigned
Jeremy Corbyn23/04/2009Islington NorthLabourSigned
Bill Etherington23/04/2009Sunderland NorthLabourSigned
Jim McGovern23/04/2009Dundee WestLabourSigned
Dai Davies23/04/2009Blaenau GwentIndependentSigned
John Mason23/04/2009Glasgow EastScottish National PartySigned
John Pugh24/04/2009SouthportLiberal DemocratSigned
Paul Rowen24/04/2009RochdaleLiberal DemocratSigned
David Drew24/04/2009StroudLabourSigned
Menzies Campbell24/04/2009North East FifeLiberal DemocratSigned
Andrew Stunell28/04/2009Hazel GroveLiberal DemocratSigned
Linda Riordan29/04/2009HalifaxLabourSigned
Simon Hughes30/04/2009North Southwark and BermondseyLiberal DemocratSigned
Brian Jenkins30/04/2009TamworthLabourSigned
Tom Brake05/05/2009Carshalton and WallingtonLiberal DemocratSigned
Sandra Osborne06/05/2009Ayr, Carrick and CumnockLabourSigned
Alan Simpson06/05/2009Nottingham SouthLabourSigned
David Cairns06/05/2009InverclydeLabourSigned
Evan Harris07/05/2009Oxford West and AbingdonLiberal DemocratSigned
Alistair Carmichael07/05/2009Orkney and ShetlandLiberal DemocratSigned
Parmjit Dhanda11/05/2009GloucesterLabourSigned
Phyllis Starkey14/05/2009Milton Keynes South WestLabourSigned
Simon Burns14/05/2009West ChelmsfordConservativeSigned
Michael Clapham14/05/2009Barnsley West and PenistoneLabourSigned
Brooks Newmark14/05/2009BraintreeConservativeSigned
Michael Penning14/05/2009Hemel HempsteadConservativeSigned
Malcolm Bruce15/05/2009GordonLiberal DemocratSigned
David Crausby15/05/2009Bolton North EastLabourSigned
Roger Williams15/05/2009Brecon and RadnorshireLiberal DemocratSigned
Paul Keetch18/05/2009HerefordLiberal DemocratSigned
Robert Syms18/05/2009PooleConservativeSigned
Greg Knight19/05/2009East YorkshireConservativeSigned
Greg Hands20/05/2009Hammersmith and FulhamConservativeSigned
Tim Boswell20/05/2009DaventryConservativeSigned
Edward Leigh01/06/2009GainsboroughConservativeSigned
John Whittingdale01/06/2009Maldon and East ChelmsfordConservativeSigned
David Burrowes01/06/2009Enfield, SouthgateConservativeSigned
Dari Taylor02/06/2009Stockton SouthLabourSigned
Michael Gove03/06/2009Surrey HeathConservativeSigned
Maria Miller03/06/2009BasingstokeConservativeSigned
Mohammad Sarwar08/06/2009Glasgow CentralLabourSigned
Harry Cohen08/06/2009Leyton and WansteadLabourSigned
David Lidington10/06/2009AylesburyConservativeSigned
Mike Gapes11/06/2009Ilford SouthLabourSigned
Anne McGuire12/06/2009StirlingLabourSigned
Doug Naysmith16/06/2009Bristol North WestLabourSigned
Malcolm Wicks18/06/2009Croydon NorthLabourSigned
Adam Price22/06/2009Carmarthen East and DinefwrPlaid CymruSigned
Angus Robertson29/06/2009MorayScottish National PartySigned
Edward Davey30/06/2009Kingston and SurbitonLiberal DemocratSigned
Jo Swinson01/07/2009East DunbartonshireLiberal DemocratSigned
Patrick Mercer12/10/2009NewarkConservativeSigned

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