SAVINGS GUARANTEE

That this House notes with concern the negative impact on savers following continued reductions in interest rates; recognises that the fall in interest rates is necessary in order to help stimulate economic activity during the current downturn, but also highlights the impact this has on those with savings as returns diminish; and calls on the Government to protect savers and guarantee a level of interest on savings using a new savings account and government bonds which in turn assists the Government with its borrowing requirement.