Local MP secures meeting with Minister about Kaupthing Singer and Friedlander

March 3, 2009 2:27 PM
Mark

Mark speaking out on behalf of the UK depositors of Kaupthing Singer and Friedlander

Mark Hunter MP for the Cheadle Constituency, challenged the Cabinet Office Minster, Kevin Brennan MP, in the House of Commons to reassure all individuals and charities affected by the collapse of Kaupthing Singer and Friedlander that they would have their funds returned in full.

Mr Hunter questioned the Minister during a Question session in the House of Commons about efforts to secure the £50 million of investment lost by 27 UK charities, as well as the considerable sums lost by thousands of individuals from across the country. Mr Hunter asked the question after many constituents who had accounts with Kaupthing Singer and Friedlander wrote to him asking him to challenge the Government over the bank's collapse.

In the Minister's response he agreed to a meeting with MPs from all parties to discuss the issue, establish what progress has been made and allow them to bring the concerns of their constituents directly to the Government.

Speaking after asking the question Mr Hunter said; "There are thousands of ordinary people who deposited money in the Icelandic Bank Kaupthing Singer and Friedlander and who have still not had their money returned. The are also 27 charities, including many smaller ones, who are reliant on their invested donations to continue to survive.

"I welcome the Minister's promise for a meeting on this issue. I will use the opportunity to raise all the concerns constituents have contacted me about and press the Minister to take urgent action now to ensure that the monies belonging to both individuals and charities is returned.

"The Government has not yet done nearly enough to ensure that people are not going to be severely out of pocket. In my view the Government should be actively pressing the Icelandic Government to repay all British savers and I will press this point during the meeting with the Minister."

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