We'll protect bank savings ї UK PM

Business Materials 30 September 2008 22:29 (UTC +04:00)

Prime Minister Gordon Brown has told the BBC that he will do "whatever it takes" to protect people's savings, BBC reported.

Legislation to guarantee bank deposits up to £50,000 - compared with the current £35,000 - is 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 pointed to actions over Northern Rock, HBOS and Bradford & Bingley to show how they protected savings.