Belfast Telegraph

Friday 11 July 2014

Paterson to honour pledge to PMS savers

Investors in the Presbyterian Mutual Society who lost their life savings have been offered fresh hope as the Secretary of State pledged to honour his promise of a “fair resolution”.

Owen Paterson lashed out at former Prime Minister Gordon Brown, who claimed that not one saver had lost cash in the banking crisis, pointing to the 10,000 people in Northern Ireland who saw their savings wiped out.

He is expected to make an announcement on how savers will be helped at around the time of the Comprehensive Spending Review on October 20, which will set out the detailed spending plans for each department.

Addressing the Conservative Party conference in Birmingham, he said: “I want to say something today to one group of people.

“Last year, referring to the banking crisis, Gordon Brown boasted that ‘not one British saver has lost a single penny'.

“In saying this, he completely ignored those investors in the Presbyterian Mutual Society who saw their money disappear.

“During the election, David Cameron and I pledged a just and fair resolution of this crisis. We've been working hard on this with the Northern Ireland Executive. And we will honour that pledge.”

Mr Paterson also used his speech on the main platform to vow that dissidents will not succeed, pledging never to compromise on security.

“There are still some armed groups out there who want to drag Northern Ireland back to a bloody past. Their activities have increased in recent years. We don't underestimate the threat they pose.

“But they offer nothing and we will not let them succeed.”

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