HC Deb 19 June 1992 vol 209 c704W
Mr. Winnick

To ask the Secretary of State for Social Security if he has set a target date for the return of Maxwell funds held in institutions abroad; and what action he is taking to bring this about.

Miss Widdecombe

I refer the hon. Member to my reply to him on 16 June at column489.

Mr. Winnick

To ask the Secretary of State for Social Security (1) if he will make a statement on the conference held in Liechtenstein on 17 June on the Maxwell funds;

(2) if his Department was represented at the conference held in Liechtenstein on 19 June on the Maxwell funds; and if he will make a statement.

Miss Widdecombe

The Department was not represented at the conference on Maxwell trusts which was held in Liechtenstein on 17 June, but which has been widely reported subsequently. It is primarily for the liquidators of the Maxwell investment management companies to establish the extent to which funds may have been transferred to Liechtenstein. However, where the special unit which we have established can make a useful contribution, it will do all it can to assist the liquidators, the trustees and others in securing the maximum return of assets to Maxwell pension funds.

Mr. Winnick

To ask the Secretary of State for Social Security if he intends to meet ministers in Switzerland and Liechtenstein to discuss the return of Maxwell funds to the United Kingdom; and if he will make a statement.

Miss Widdecombe

We have no plans at present to meet Ministers in Liechtenstein or Switzerland to discuss disputed Maxwell pension fund assets.

Mr. Hendry

To ask the Secretary of State for Social Security if he will set out the funding procedures for the emergency, short-term help for Maxwell pensioners he announced on 8 June.

Mr. Lilley

I announced on 8 June that the Government were making available temporary funding of £2.5 million, in the form of repayable grants to help ease the short-term pressures faced by Maxwell pensioners. Parliamentary approval of this new service will be sought in a supplementary estimate for class XIV Department of Social Security, vote 3. Pending that approval, urgent expenditure estimated at £2.5 million will be met by repayable advances from the contingency fund.