Prescott costs more than 120,000 robbed pensioners

7.04.00am UTC (GMT +0000) Thu 22nd Feb 2007

The Liberal Democrats have revealed that more money is being spent maintaining John Prescott's office than has been paid out to people who have lost their pensions when their schemes collapsed.

With the news being announced on Wednesday that John Prescott's Office costs amount to £2.6m, this is significantly more than the £2.4m the Financial Assistance Scheme has so far paid out to 900 workers.

Commenting, Liberal Democrat Pensions Spokesperson, Lord (Matthew) Oakeshott said "This is the ultimate insult to the 120,000 pensioners robbed when their schemes collapsed. The Government's farcical Financial Assistance Scheme has only paid out £2.4 million to 900 people - less than £2,700 each."

"John Hutton (Chancellor of the Duchy of Lancaster in the Labour government and responsible for administering this fund) should stop sitting on his £1 million personal pension pot and pay proper compensation to the robbed pensioners now."