Hbos And Farepak

EDM number 2874 in 2005-06, proposed by Frank Field on 30/10/2006.

That this House draws attention to the pivotal role HBOS has played in the collapse of Farepak, the Christmas savings scheme, whose bankruptcy blights the Christmas of half a million decent people, many of whom have been saving since January of this year; notes that HBOS allowed Farepak to continue trading whilst it clawed back something like £1 million a week of people's savings to offset the company's overdraft with the bank; further notes that in the last financial year HBOS reported a staggering record pre-tax profit of £4.8 billion; and calls on the bank to make good quickly the savings of those decent citizens who have been carefully saving money with Farepak to offset the extra costs of Christmas.

This motion has been signed by a total of 67 MPs.