Commenting on The Edinburgh Reforms announced by the Chancellor today, Robin Fieth, BSA Chief Executive said:

“We have been working with the Treasury for some time on secondary legislation that will partially update the Building Societies Act, which has not been fully revised for 25 years. We heartily welcome this announcement which marks excellent progress in delivering legislation that is fit for purpose, enabling building societies which are a key part of today’s financial services sector to better serve their members and provide competition in financial services.”

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Contacts:

Katie.wise@bsa.org.uk 

Hilary.mcvitty@bsa.org.uk