SNP Work and Pensions Spokesman and Westminster candidate for Glasgow
East, John Mason, has hit out at an “inadequate and unfair” settlement
for the thousands of victims of the Farepak collapse and slammed the
Labour Government for its repeated failure to step in to ensure
compensation for the victims following confirmation that Farepak
families are set to receive just 15p for every pound invested.

Commenting Mr Mason said:

“It is simply disgraceful that,
three years after the Farepak collapse, 123,000 victims are still
haunted by this ghost of Christmas past.

“It is a disgrace that
thousands of low-income families, still struggling to find their feet,
are set to receive this inadequate and unfair payout while the
administrators have made millions.

“In Glasgow East, Livingston and constituencies around the country,
families have been hit financially by the Farepak collapse and they have
not received a fair deal.

“After failing to secure adequate
consumer protection and failing to ensure compensation for the victims,
this is Labour’s legacy to thousands of families.

"Farepak should have been a stark warning to the UK government to
take serious and decisive action against the workings of the insolvency
industry which is raking in a fortune at the expense of creditors. 
Unfortunately Labour’s failure to act has resulted in a settlement,
unfair for all.”