Date published: 2008/09/30
The BBC says:
Prime Minister Gordon Brown has told the BBC that he will do "whatever it takes" to protect people's savings.
Moves to guarantee bank deposits up to £50,000 - compared with the current £35,000 limit - are expected shortly.
He declined to offer an unlimited guarantee, as has happened in Ireland, but pointed out the government had not let any UK depositor lose out.
He said with Northern Rock, HBOS and Bradford & Bingley they had taken action to protect people's savings.
The Irish government has made an emergency decision to guarantee the safety of all deposits in six of its main savings institutions for two years.
No, Mr Brown is not doing "whatever it takes" to protect people's savings. If he were, he would impose no limit on the bank deposit guarantee. Even the 50k limit does not get Britain up to the 100k dollar limit that has been applicable in the US for years.
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