Dundee LibDems back call for protection for public with Christmas savings schemes (Dundee Liberal Democrats)

Dundee Liberal Democrats <info@dundeelibdems.org.uk>

Dundee LibDems back call for protection for public with Christmas savings schemes

November 12, 2006 6:27 AM

Allan Petrie backs call for protection for public with Christmas savings schemes

Dundee Liberal Democrats have today (Sunday 12th November) backed calls by LibDem small business spokesperson Lorely Burt MP for protection for savers following the collapse of Farepak resulting in the loss of £40 million from around 150 000 people saving to buy their Christmas presents.

Ms Burt, who attacked the companies involved and called on the Government to give customers better protection, said, "I welcome the announcement that the DTI is to investigate the circumstances of this collapse and I will be pressing for improved regulations to give the same protection for people in savings clubs that are currently given to those in credit unions."

Here in Dundee, Liberal Democrat spokesperson Allan Petrie, said, "The Farepak collapse has ruined the Christmas plans of many Dundee people and it is vital that this cannot be allowed to happen again. I fully back LibDem calls for better protection for savers in Christmas clubs in the future."