Prescott earnings more than 125,000 robbed pensioners

3.34.19pm BST (GMT +0100) Wed 26th Jul 2006

New research released today by the Liberal Democrats shows that John Prescott has received more money from the taxpayer in salary, pension and benefits in kind than the Financial Assistance Scheme (FAS) has paid to people robbed of their pensions by Government incompetence.

Commenting, Liberal Democrat Pensions Spokesman, Lord (Matthew) Oakeshott said:

"The FAS has paid a pittance at a snail's pace. Less than £350,000 has been paid to only 113 of the 125,000 people robbed of their pensions when their schemes collapsed.

Reacting to the news, Andrew Simpson, Lib Dem Spokesperson for Northampton North said: "At the rate the government are going, almost all those who have lost their pensions will die before they get a penny."

Lord Oakeshott added: "The new review of the FAS administration tells a sorry tale of incompetence and delay in getting money to people in desperate need. This means that the FAS has paid less than John Prescott has received from the tax payer in the 20 months since the Government set it up in the first place."