The Government has pledged to make an announcement on the Financial Assistance Scheme (FAS), set up to bail out thousands of pensioners whose employers went bust, in "the next few days".
Speaking during today’s Prime Ministers Questions, Gordon Brown said he was confident he will be able to guarantee 90% of the pensions, which affect 125,000 people. However, Brown’s comments have been condemned as “spin” and the Prime Minister accused of offering false hope. Brown’s comments follow speculation this week he has vetoed plans to compensate the pensioners, overruling the Cabinet. Work and Pensions Secretary, Peter Hain, is understood to have already put aside £725m of his department's budget to beef up the FAS. It would bring the Financial Assistance Scheme - to which the G...
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