Labour To Steal £50BN

Another attempt at grabbing our cash by Greed Gordon!

LONDON (AFX) - A Labour government would force banks to release their so-called
orphan assets - dormant bank accounts whose owners are either deceased or have
forgotten about them - if their owners can't be found.

Releasing the economic chapter of the party's general election manifesto, Labour
said banks will need to start a process of reuniting unclaimed assets from
dormant bank accounts with their owners or next of kin.

Labour said it would "work with the financial services industry to establish a
common definition and a comprehensive record of unclaimed assets.

"We will then expect banks, over the course of the parliament, to either reunite
those assets with their owners or to channel them back into the community."

A Labour would also bring forward plans to strengthen consumer rights and would
expect the banking industry to remove delays in processing cheques and other
payments under threat of legislation.

Unless the banks comply with their request legislation would follow early in the
next parliament, the party said.
Business Finance news
well its not the banks money if it can't be returned to to its owners shouldit
a prop up the banks
or b spent on fres?
It's more the bank's money than the Government's.

If you loan me a CD & die, does the CD belong to me or Gordon Brown?
Well 'New Labour' have actually proposed something that is a little 'socialist' for a change. I still don't agree with it as it's well open to abuse. What if I leave a bit of money in the bank for my family. Who's to say that the money's been static (earning interest) for too long and time to spend it on a good cause? What happens when a relative of mine turns up to claim their money (plus interest) back and it's been given to the government? Do they get it back? Or just a certificate to say they helped the country and should be very proud?
stoatman said:
It's more the bank's money than the Government's.

If you loan me a CD & die, does the CD belong to me or Gordon Brown?
Simple but very eloquent.

It gets more and more like a communist country every day. So much for the west beating the commies at the end of the cold war! It appears the commies were playing the long game and have managed to infiltrate our highest levels of govt.

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