Saverdave:

I am confused.  The Chancellor clearly said that the Government's guarantee only appplied to existing balances with NR, yet a few hours later "Adam Applecart" is offering to refund withdrawal penalties to anyone who re-invests their money.  Such reinvestments would not be covered by the Government's specific guarantee.  It might be argued that there is a implicit guarantee covering moneys invested with NR after the guarantee was announced but if so, why would anyone want to invest in Government Stock or National Savings when Government-guaranteed NR offers a much better return?

P.S.  I still cannot access NR's web-site.  Does this mean that the withdrawal rush has not been stemmed or are the people responsible for the web-site simply incompetent? 

 It just means that the Daily Mail didn't tell all of it's readers that their money is guaranteed and they're STILL trying to take it out.