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Farepak

Thank you, Miss Begg. Most of my points have already been covered, but I would like the Minister to comment in his winding up speech on a statement made by Neil Henderson-Begg, who represents the Hamper Industry Trade Association. After the collapse, he stated:"““It seems odd that Farepak declared its financial position untenable at the time of the year when it is holding most cash—when contributions are almost fully paid-up. Customers will want to know where their pre-payments have gone.””" Naturally, they will. He said that customers are concerned about the time that elapsed between the suspension of EHR shares and Farepak’s ceasing trading, and that"““Others want to know whether their money went towards making other firms in the EHR group attractive enough to be immediately snapped up””," which they were, very shortly after the collapse. He added that customers also need to why Farepak’s lending banks allowed the situation to go as far as it did. That point has been touched on by several hon. Members. I also ask that the Minister examine closely whether the Government are one of Farepak’s creditors. Sadly, in the past, the small investor has normally been the last to be compensated. On this occasion, the Government and other large creditors should set an example, step back and allow any assets of the company to be used to form a compensation package for those people who have been so devastated by the loss of all their savings.