Presbyterian Mutual Society

Part of Oral Answers to Questions — Northern Ireland – in the House of Commons at 11:30 am on 3rd June 2009.

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Photo of Mark Durkan Mark Durkan Leader of the Social Democratic & Labour Party 11:30 am, 3rd June 2009

Does the Secretary of State not recognise that those who put their money into the Presbyterian Mutual Society did so believing that they were savers, rather than investors? That is how they understood the situation. Young families and old people with lifetime investments are now caught up in grievance and distress because of a situation that is not of their making. Will the Secretary of State explain why a variant of the model used to relieve the situation of the Dunfermline building society is not being used by the Treasury in response to the situation of the Presbyterian Mutual Society?

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