Brown pressed to help NI savers

The Presbyterian Mutual Society went into administration in November

The chairman of a House of Commons committee has called on Gordon Brown to help people who lost money in the collapsed Presbyterian Mutual Society.

Labour MP John McFall, of the Treasury committee, said the prime minister must work with the Presbyterian Church and the NI Executive to resolve the issue.

In a letter, he said he understood a resolution was complicated but an urgent solution was needed.

Mr McFall said the Treasury Committee would continue to monitor developments.

He said it may return to the issue in the autumn.

About 9,500 savers were hit by the collapse of the Presbyterian Mutual Society, which was put into administration last November.

Mr McFall wrote: "I understand the resolution is complicated, dependent on many external issues such as the speed and extent of recovery of the property market, the point at which assets are realised, and whether there will be any assistance from the government."

However, he added: "I would ask that you urgently consider taking further action in this area, working with the Northern Ireland Executive and the Presbyterian Church to find a fair and expedient resolution of this issue."

He had previously made representations to the Secretary of State Shaun Woodward on the issue.