Presbyterian Mutual Society

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

Alert me about debates like this

Photo of Shaun Woodward Shaun Woodward The Secretary of State for Northern Ireland 11:30 am, 3rd June 2009

As always, the Churchillian recognition of my hon. Friend is helpful in allowing me to enjoy this a little more; I am tempted to say I am enjoying this, but perhaps I should resist that.

We have to recognise again that these are not savers; they were investors. As such, they made an investment as risk capital in the form of withdrawable shares and loans. There is an issue about whether or not this should have been regulated; it was registered; it should have been regulated. There is an issue that I continue to want the FSA to look at, but I am not trying to evade our responsibility. If we can find a way to help these people, we should do so. I am prepared to break the bureaucracy to do it, if it is at all possible.

Embed this video

Copy and paste this code on your website