Banks should never have a say in the matter. It is obvious that the government is not in control on this matter. Customers money should be gauranteed. Banks are out of control and gaurantees are one meassure to get them back in control. "Control" is the key word Mr PM Brown.

Jim Wills, Brisbane, Australia

I take it we all remember the meltdown in Argentina? Money is set to become worth as much as printing paper...

Charles, Cirencester, Great Britain

Good idea Bob but will Sainsbury's take gold coins at the checkout?

Paul, Coventry,

So we now have the public purse yet again put on standby to bail out big business. Having seen the way the government's preferred guardian performs - The FSA - what hope have we? the FSA have failed with Northern Rock, they have failed with protecting Insurance Companies with-profits customers!!!!

Richie, Cardiff, Wales

I think I'm beginning to see why my grandparents never trusted banks.

Howard, Manchester,

Presumably if the Government is concerned that the Banks may find difficulty in funding the new system then they are anticipating that it will be called upon to pay out. If the banks remained solvent then then payouts would be little more than a contingent liability on the banks balance sheets.

S E, Horsham, UK

We can't have anything that might spoil the bonuses of the banking fat cats. Profits for the private sector bailouts by the public. The banks say jump and the government and FSA just ask "how high?".

Fred, Moray, Scotland

This is a pre-emptive strike by the government who can see the meltdown in the global financial system rapidly approaching. Stay safe by swapping your fiat currencies for gold unless you want to be one of the millions of claimants queueing in an attempt to receive payment from a bankrupt treasury.

Bob, Watford, England

If a bank fails, the taxpayer will pick up the cost, The guarantee fund deposited by the banks will not cover any more than a small bank.

KW, Bognor Regis, England

I'm sorry, but does this mean the the UK tax payer has to cough up again?

Nan, Reading, UK

that's excellent, so now lenders can squander away those billions of pounds instead! nice one no worries, let's just deflate hte value of the gbp by printing more (what's that ? inflation? there's NO correlation!)

James White, London, U.K

So the Government will underwrite the scheme, will they? Will they be chipping in with some of their expenses?

Bill Peter, Kuala Lumpur, Malaysia