MPs repeat call to compensate charities with cash locked in Icelandic banks

Early day motion says Government should accept Treasury Select Committee's recommendation

MPs have repeated calls for the Government to compensate immediately all the charities that lost money in last year's Icelandic banking collapse.  

Graham Brady, the Conservative MP for Altrincham and Sale West, published an early day motion calling on the Government to accept the recommendations of the Treasury Select Committee report into the banking crisis, which called for all charities to be compensated for their losses. It has garnered 11 signatures since being lodged last week.  

Charities that lost millions of pounds in the collapse of Kaupthing Singer & Friedlander, such as Naomi House and Cats Protection, were told by administrators that they would probably recoup only 50 pence in the pound.

Meanwhile, Bob Spink, the independent MP for Castle Point in Essex, has posted a separate motion calling on the Government to do more work to promote the merits of voluntary work to people who have lost their jobs in the recession.

This EDM, which has 15 signatures, commends "those unemployed workers who have turned to the voluntary sector as a way to gain new skills, get a head-start in a highly competitive job market and make valuable use of their time out of work".

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