£50,000 Government Guarantee - Brown dithering again

[PPPPPP]

http://news.bbc.co.uk/1/hi/uk_politics/7644818.stm

They could just announce this, or even an unlimited guarantee on deposits.

Why the delay?

Would people really worry more that it has gone up from £35k to £50k?

Do we have politician in charge or a Leader?

Edited by PPPPPP on Tuesday 30th September 20:14

[andyquantum]

The pound is going down the stter vs the USD, may as well say £100k at the moment. £50 notes making a comeback

[Bing o]

Guarentee all bank deposits - surely cheaper than nationalising every bank that goes to the wall, would restore consumer confidence and stop runs like we saw at NR, precipitating it's demise...

[oilandwater]

Shirley the question is not how much, but how soon can you get your money back if everything goes belly-up.

[Hereward]

The Irish banks have announced unlimited protection so I have just opened an account with AngloIrishBank and will be transferring the whole lot from Egg to AIB.

[oilandwater]

I found this site very useful.
http://www.moneyfacts.co.uk/Savings/articles/who-o...

[uk_vette]

I think the money needs to under the mattress

[jsc15]

with all the banks merging there may be difficulty having enough banking groups to spread the risk around, but still stay under the maximum. This is a problem I wish I had

[ninja-lewis]

Bing o said:

Guarentee all bank deposits - surely cheaper than nationalising every bank that goes to the wall, would restore consumer confidence and stop runs like we saw at NR, precipitating it's demise...

Total bank deposits is around £850-900 billion I think.

[sleep envy]

fk it

I'm going to do what I should have done earlier this year and buy a moorbike

[fadeaway]

It wasn't even Brown's idea - it's the FSA, he's just trying to claim the credit for it.

[MrVelox]

andyquantum said:

The pound is going down the stter vs the USD, may as well say £100k at the moment. £50 notes making a comeback

Last I checked it cost me about $1.78 to buy a pound... down from almost $2, but historically it's usually been about $1.50-1.60. Hardly in the stter... $1.25 to the pound would be the stter.

[andyquantum]

Well, that depends on your viewpoint. To me it is, I work for a US company and sell into the UK.

It's been less difficult to sell recently due to dollar rate, however a lot of our projects are now being put off as there's suddenly a £20k increase in what they're buying which is purely the difference between 1.95 and 1.76