PARLIAMENTARY WRITTEN QUESTION
(10 December 2025)

To ask the Chancellor of the Exchequer, when her Department plans to bring forward secondary legislation required under the Building Societies Act 1986 (Amendment) Act 2024 to enact provisions around the disapplication of the wholesale funding limit for funds held for prudential purposes.

Asked by:
Patrick Hurley (Labour)

The government is committed to supporting the growth of building societies in line with the manifesto commitment to double the size of the mutual and co-operative sector. As part of this, the government is committed to ensuring that building societies can operate in a modern and supportive legislative environment.

On 14 October 2024, the government introduced two statutory instruments to modernise the 1986 Act. The Building Societies Act 1986 (Amendment of Small Business Turnover Limit) Order 2024 came into force on 4 November 2024 and the Building Societies Act 1986 (Modifications) Order 2024 came into force on 6 January 2025.

The government will look to give effect to the further powers enabled through the Building Societies Act 1986 (Amendment) Act 2024 in due course.

Answered by:
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