Lynda backs Farepak bill

11:20am Tuesday 29th January 2008

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A BILL is going through parliament which should pave the way for a pay back for savers who lost out when the Farepak Christmas club collapsed just over a year ago.

Festivities in 2006 were bleak for Farepak customers - a number of whom lived in Stourbridge - who lost their money, but a Bill to regulate such savers, giving them the same protection as those who save with banks will receive its second reading in April.

Stourbridge MP Lynda Waltho, who is backing the Bill, said: "It is now the right time to move forward with proper long term regulation and I am pleased to support this 10-minute rule bill.

She said she hoped new legislation could help the Government to compensate former Farepak savers, in the knowledge that it would not be called upon to do that again because future Christmas club savers would be protected in law.