Question to the HM Treasury:

To ask Her Majesty’s Government whether the decision of the European Council concerning a new settlement for the UK within the EU, which states that "not all member states have the euro as their currency", means that the Financial Services Compensation reduction of the deposit protection limit from £85,000 to £75,000 will be reversed, and whether in future such fixed sterling amounts will not be subject to amendment according to exchange rate movements.

The Government has made representations to the European Commission to suggest that the reviews of the Deposit Guarantee Scheme Directive coverage level in non-euro states should occur after the Commission completes its review of suitability of the coverage level as a whole and also that changes for non-euro states reflect genuine, very large and lasting changes in exchange rates.