Latest: no date set to implement rise of British bank savings guarantee to £50,000

The British Government guarantee of bank deposits to £35,000 remains the case for the immediate future. No date has been set for the implementation of the rise in guarantee to £50,000 announced by Gordon Brown last night and confirmed this morning. The rise is also widely judged to be inadequate in the current circumstances. It has just emerged that continuing Treasury discussions on the matter were not very far advanced when Brown made his announcement last night – hence there is as yet no date set for the raised guarantee to come into operation.