FACTBOX - Key new laws planned by Brown
LONDON - Prime Minister Gordon Brown unveiled his government's legislative program for the next 12 months on Wednesday. Following is a list of key new laws and policy plans.
* BANKING
-- The new Banking Bill aims to strengthen regulation of the banking sector with more power and more responsibility given to the Bank of England (BoE).
-- The Bank will take on a new legal role to ensure stability in the financial system, alongside its current statutory objective to run monetary policy.
-- The Bank will be able to provide 'covert' short-term liquidity to banks.
-- Bank disclosure rules will be changed allowing the Financial Services Authority (FSA) to collect information from banks in trouble and share it with the Bank or government.
-- Increase in the guarantee for bank savings to 50,000 pounds from 35,000 pounds on a per person, per bank basis.
* SAVINGS SCHEME
-- Creation of a Savings Gateway Accounts Bill designed to offer incentives to 8 million low-income earners to save more. Continued...
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