Kaupthing IOM

Those with an interest (financial or otherwise) in the Kaupthing Isle of Man debacle will wish to know that the Treasury Select Committee is taking evidence on this subject and about the very many questions that it raises, this morning.

Many Members of Parliament on both sides of the House have grave concerns about aspects of the manner in which HM Government and the Financial Services Authority have handled this situation and about the apparent conflict in attitudes that arises from this.

My colleague Michael Fallon, a senior Conservative Member of the Select Committee, will be seeking to press for answers on these issues and tells me that those wishing further information should find, within a couple of days, the unedited transcript of the evidence on the Parliament website.  www.parliament.uk, enter treasury.com and click on uncorrected oral evidence.

I hope this is helpful and I also hope very much that this hearing may move us a step closer towards a fair resolution of the situation that many, particularly those living overseas, find themselves in.

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