Can time be found next week for an urgent debate on early-day motion 426, which I tabled?
[That this House notes the disproportionate impact on building societies of the Financial Services Compensation Scheme (FSCS) levy, resulting from the failure of Bradford and Bingley plc, the Icelandic banks and London Scottish Bank; rec ognises that building societies’ share of the levy, approximately 200 million per annum in each of the next three years, is equivalent to a bout 15 per cent. of the sector’ s pre-tax profit for 2007-08 financial year ends; notes that build ing societies’ share of the levy for years beyond 2011 is uncertain, but could well be higher than 200 million per annum; acknowledges that the impact on building societies contrasts starkly with the banking sector, where the FSCS levy is typically well below five per cent. of pre-tax profits over a similar accounting period; further notes that the current allocation of the FSCS levy works to the detriment of building societies’ members, their savers and borrowers; acknowledges that no building society has ever made
