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.

MP	Date	Constituency	Party	Type
Vincent Cable	02/04/2009	Twickenham	Liberal Democrat	Proposed
Mike Hancock	20/04/2009	Portsmouth South	Liberal Democrat	Seconded
Peter Bottomley	20/04/2009	Worthing West	Conservative	Seconded
Bob Spink	20/04/2009	Castle Point	Independent	Seconded
Adrian Sanders	20/04/2009	Torbay	Liberal Democrat	Seconded
Bob Russell	20/04/2009	Colchester	Liberal Democrat	Seconded
Willie Rennie	20/04/2009	Dunfermline & Fife West	Liberal Democrat	Signed
Lynne Jones	20/04/2009	Birmingham, Selly Oak	Labour	Signed
Nick Harvey	20/04/2009	North Devon	Liberal Democrat	Signed
John Leech	21/04/2009	Manchester, Withington	Liberal Democrat	Signed
Paul Truswell	21/04/2009	Pudsey	Labour	Signed
David Taylor	21/04/2009	North West Leicestershire	Labour	Signed
Andrew George	21/04/2009	St Ives	Liberal Democrat	Signed
Ann Cryer	21/04/2009	Keighley	Labour	Signed
Martin Caton	21/04/2009	Gower	Labour	Signed
Colin Breed	21/04/2009	South East Cornwall	Liberal Democrat	Signed
Mark Hunter	22/04/2009	Cheadle	Liberal Democrat	Signed
Mark Williams	22/04/2009	Ceredigion	Liberal Democrat	Signed
Stephen Williams	22/04/2009	Bristol West	Liberal Democrat	Signed
Lynne Featherstone	22/04/2009	Hornsey & Wood Green	Liberal Democrat	Signed
Mark Durkan	22/04/2009	Foyle	Social Democratic and Labour Party	Signed
John McDonnell	22/04/2009	Hayes & Harlington	Labour	Signed
Mark Lazarowicz	22/04/2009	Edinburgh North & Leith	Labour	Signed
Paul Holmes	22/04/2009	Chesterfield	Liberal Democrat	Signed
John Mason	23/04/2009	Glasgow East	Scottish National Party	Signed
Dai Davies	23/04/2009	Blaenau Gwent	Independent	Signed
James McGovern	23/04/2009	Dundee West	Labour	Signed
Bill Etherington	23/04/2009	Sunderland North	Labour	Signed
Jeremy Corbyn	23/04/2009	Islington North	Labour	Signed
Paul Rowen	24/04/2009	Rochdale	Liberal Democrat	Signed
David Drew	24/04/2009	Stroud	Labour	Signed
Menzies Campbell	24/04/2009	Fife North East	Liberal Democrat	Signed
John Pugh	24/04/2009	Southport	Liberal Democrat	Signed
Andrew Stunell	28/04/2009	Hazel Grove	Liberal Democrat	Signed
Linda Riordan	29/04/2009	Halifax	Labour	Signed
Simon Hughes	30/04/2009	North Southwark & Bermondsey	Liberal Democrat	Signed
Brian Jenkins	30/04/2009	Tamworth	Labour	Signed
Tom Brake	05/05/2009	Carshalton & Wallington	Liberal Democrat	Signed
Alan Simpson	06/05/2009	Nottingham South	Labour	Signed
Sandra Osborne	06/05/2009	Ayr, Carrick & Cumnock	Labour	Signed
David Cairns	06/05/2009	Inverclyde	Labour	Signed
Evan Harris	07/05/2009	Oxford West & Abingdon	Liberal Democrat	Signed
Alistair Carmichael	07/05/2009	Orkney & Shetland	Liberal Democrat	Signed
Parmjit Dhanda	11/05/2009	Gloucester	Labour	Signed
Michael Penning	14/05/2009	Hemel Hempstead	Conservative	Signed
Brooks Newmark	14/05/2009	Braintree	Conservative	Signed
Michael Clapham	14/05/2009	Barnsley West & Penistone	Labour	Signed
Simon Burns	14/05/2009	West Chelmsford	Conservative	Signed
Phyllis Starkey	14/05/2009	Milton Keynes South West	Labour	Signed
Malcolm Bruce	15/05/2009	Gordon	Liberal Democrat	Signed
David Crausby	15/05/2009	Bolton North East	Labour	Signed
Roger Williams	15/05/2009	Brecon & Radnorshire	Liberal Democrat	Signed
Paul Keetch	18/05/2009	Hereford	Liberal Democrat	Signed
Robert Syms	18/05/2009	Poole	Conservative	Signed
Greg Knight	19/05/2009	East Yorkshire	Conservative	Signed
Greg Hands	20/05/2009	Hammersmith & Fulham	Conservative	Signed
Tim Boswell	20/05/2009	Daventry	Conservative	Signed
Edward Leigh	01/06/2009	Gainsborough	Conservative	Signed
John Whittingdale	01/06/2009	Maldon & East Chelmsford	Conservative	Signed
David Burrowes	01/06/2009	Enfield, Southgate	Conservative	Signed
Dari Taylor	02/06/2009	Stockton South	Labour	Signed
Michael Gove	03/06/2009	Surrey Heath	Conservative	Signed
Maria Miller	03/06/2009	Basingstoke	Conservative	Signed
Mohammad Sarwar	08/06/2009	Glasgow Central	Labour	Signed
Harry Cohen	08/06/2009	Leyton & Wanstead	Labour	Signed
David Lidington	10/06/2009	Aylesbury	Conservative	Signed
Mike Gapes	11/06/2009	Ilford South	Labour	Signed
Anne McGuire	12/06/2009	Stirling	Labour	Signed
Doug Naysmith	16/06/2009	Bristol North West	Labour	Signed
Malcolm Wicks	18/06/2009	Croydon North	Labour	Signed
Adam Price	22/06/2009	Carmarthen East & Dinefwr	Plaid Cymru	Signed
Angus Robertson	29/06/2009	Moray	Scottish National Party	Signed
Edward Davey	30/06/2009	Kingston & Surbiton	Liberal Democrat	Signed
Jo Swinson	01/07/2009	East Dunbartonshire	Liberal Democrat	Signed
Patrick Mercer	12/10/2009	Newark	Conservative	Signed

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