Proposal to increase financial services compensation scheme

Reza Attar-Zadeh, Director of Savings and Investments at Abbey said: "We welcome news of the proposed plans to increase the Financial Service Compensation Scheme from GBP35,000 to GBP50,000. While this is still only a relatively small increase we hope this move will go some way to help boost consumer confidence. While Abbey supports any initiative to restore confidence in the stability of the banking system, Abbey is well positioned, backed by the financial strength of its parent, Santander, a top ten global bank".