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Allister welcomes PMS report

18 February 2010


Statement by TUV Leader Jim Allister QC:-

"Having long contended that DETI had failed the PMS savers by failing to ensure adequate regulation of mutual societies, I greatly welcome the clear criticism by John McFall's Treasury Committee of DETI's inactivity. Given DETI's knowledge and access to all the relevant information the fact that it failed to take any preventative action creates an element of culpability which it has yet to face up to.
"I trust that the government will now be big enough to face up to its failings and responsibilities and move forward expeditiously to bring resolution to PMS savers who have suffered so grievously. However, the initial angry and defensive response by Arlene Foster suggests the Department's pride is more important than getting justice for PMS savers. For her to describe the McFall Report as 'shoddy' reflects more on her than the Treasury Select Committee. 'Shoddy' might well be a good description of how DETI approached its responsibilities down the years towards mutuals."

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