Support for Presbyterian Mutual Society

Local Ulster Unionist representatives at Newry & Mourne District Council, Cllr Danny Kennedy MLA and Cllr Isaac Hanna have tabled a motion to debate the ongoing plight of the Presbyterian Mutual Society and calling on the Prime Minister Gordon Brown and the Treasury to support those caught up in the crisis.

Speaking before the motion which is due to be debated at the District Development meeting of Newry & Mourne District Council tonight (Monday 20^th April) Cllr Kennedy said "I believe it is absolutely essential that Government acts immediately to protect the investors of the Presbyterian Mutual Society in the same manner in which they have provided financial guarantees to bank and lending institutions in the rest of the UK.

He continued, "I am very much aware of the considerable concern and worry felt by a great many local people who invested in the Presbyterian Mutual Society in good faith and who now find themselves in financial distress. In my view it is absolutely imperative that the Government act immediately to safeguard those investments.

Cllr Isaac Hanna who jointly sponsored the motion expressed the hope that the notice of motion would attract widespread support at Council level and said he was aware that many people in the Mourne area were very concerned at the financial crisis affecting the Presbyterian Mutual Society. He hoped the Government would respond positively to the representations being made from all quarters.