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Dormant Bank and Building Society Accounts Bill [Lords]

I congratulate the Minister on the passage of the Bill and on the addition on Report of a review process. The Bill will mean more money flowing back into the hands of the public and important charities. Many of us had hoped for a much tighter check on the UK banking system and a mandatory scheme. I expressed my cynicism about the banking system and bankers in general in Committee and at other stages of the Bill's consideration. I remind the House that in 2004, I asked the banks how much they had in dormant bank accounts. Six of them replied, saying that they had £419 million, while 16 did not—or would not—reply. Given that they are now talking about £250 million, there is a bit of a discrepancy, and I would like to know what has happened to that money. I let the Minister off too lightly in Committee when I said it was perhaps the definition of 10 extra years. On a back-of-the-envelope calculation, I do not think that that is true because the banks had £400 million four years ago, and they have been going for perhaps 50 to 100 years in this country. I think that there is more money, and I hope that it will show up. I wait with interest to see which banks comply with the demands of the voluntary scheme. That is why I am grateful for the review procedure, which should give us some indication of the performance of the voluntary scheme at an early stage. I hope for a proportionate distribution of the moneys across the regions of the UK. The money could provide much-needed funding for community projects to help the many volunteers and organisations throughout Britain who work with young people every day. I look to the future of other dormant asset schemes, such as insurance funds, share certificates and gambling debts. I hope to work with the Treasury on legislation in those areas in the near future. The Bill is a good start, and I am proud to have had some small influence on it going on to the statute book.