Darling to raise FSCS limit - papers 1 July

As it stands savers are now entitled to compensation of 100% of their money up to a maximum of £35,000 in the event of a bank collapsing. But MPs are understood to want to raise this to £50,000 for the Financial Services Compensation Scheme, which provides the ultimate safety net for Britain's savers and investors. In addition, other changes have been mooted for the FSCS. One involves a change in the basis for compensation. At present, it is paid on a net basis. CLIVE COWDERY HAS drawn up a hit list ranging from building societies to mortgage specialists that he plans to target, having...