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How PMS savers have been led a merry dance

18 February 2010



Statement by Jim Allister QC:


On the day when the Treasury Select Committee Report identified undeniable failings by DETI and others, local Executive members, instead of gleaning from the Treasury Select Committee Report ammunition to help the fight on behalf of PMS savers, have reacted in arrogance and anger over the justified criticisms, it is timely to reflect on the many false promises and false dawns offered to these hard-pressed savers. Sadly, the response of Executive Ministers suggests their own pride matters more to them than the plight of those they have long promised to help.


One can only hope they get over themselves and face up to their responsibilities, including those which flow from the inexcusable failure of DETI to plug the regulatory gap that permitted this crisis to evolve.


7 July 2009 – Irish Times


Following his meeting yesterday with the Prime Minister Peter Robinson has reported significant progress on the problem of the PMS. 


9 July 2009 – News Letter


The First Minister “I want people to know that serious and strenuous efforts are being made on their behalf”.


24 July 2009 – News Letter


PMS Working Group unveiled.


21 August 2009 – News Letter


Following a meeting with six savers Minister Foster said “Continuing to do all that we can to help achieve a positive outcome”


11 September 2009 – News Letter


Enterprise Minister Arlene Foster told the News Letter the group – set up by Gordon Brown in June is on course to deliver its findings this month as planned.  “Plan to submit a draft report to the Prime Minister later this month”.


25 September 2009 – News Letter


Jeffrey Donaldson said that he was “hopeful that the final report will be published in October.


8 October 2009 – News Letter

Donaldson said “Working officials would bring forward a draft report for Ministers at a meeting on 14 October 2009..”


16 October 2009 –News Letter


Minister Foster – “Progress continues to be made….  Finding a solution is a priority for the Executive and we will leave no stone unturned”


17 October 2009 – News Letter


F/Minister Robinson – “They are doing all they can to work for a quick solution”


19 October 2009 NI Assembly Debates


F/Minister Robinson – “We are doing all that we can to work towards a solution for PMS members”.. “The matter is receiving our close attention”


9 November 2009 – NI Assembly Debates


DF/Minister McGuinness – “I think that we are now rapidly moving towards a conclusion and I hope that it will be a successful one”.


11 November 2009Belfast Telegraph –


The delayed report on the collapsed PMS will be presented to Gordon Brown “within weeks” the Secretary of State for Northern Ireland has insisted. Shaun Woodward said the draft findings from the Ministerial Working Group are being finalised”


17 November 2009 – BBC News NI


The NI Finance Minister has said he is confident there will be a satisfactory conclusion for members of the failed Presbyterian Mutual Society.


22 December 2009 – BBC NI NEWS


Talks with a bank interested in taking over the Presbyterian Mutual Society are at an advanced stage, Jeffrey Donaldson has said.  “Developments could be announced in the New Year”


13 February 2010 – Irish Times - Re Meeting With Prime Minister on 12 February 2010


First Minister Peter Robinson said work would continue to try to help those affected.  These efforts could not be rushed. 



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