A Kaupthing Singer and Freidlander IoM depositor who had been unable to keep his savings in a UK bank after moving overseas to work (sound familiar? Like many of those caught up in this, he had been an unwilling offshore bank user) after living in Fulham. He wrote to his MP, Mr Hands to inform him that he was not actually a Tax Dodger (as many MP's - especially the UK Government ministers - feel offshore bank users are) but that he was forced to use the services of the Isle of Man by the UK Government's 2007 'Know Your Customer' legislation. He also went on to fully describe how it was affecting himself and his family.
The reply from Greg Hands on the surface looks encouraging, but after full reading it can be seen as a cynical attempt to look good rather than do good. An investigation by this website shows that the prime interest and work Greg Hands has and does is going after MP's expense claims and making a song and dance if they look wrong. He has done absolutely nothing whatsoever to help stop the UK Government getting away with destroying his constituent's life. Shame on you Greg Hands.
Here are the details of the only reply the depositor and consituent received (a month after originaly writing to his MP);
Thank you for contacting Mr Hands about the compensation for British savers with deposits in offshore banks. I am sorry for the delay in replying and, to save further delay through postage, I am responding on his behalf by email.
Greg is aware of the uncertainty and delays concerning compensation, and he appreciates that this must be a difficult time for you.
Conservatives believe it is time for an inquiry into the Government and the FSA's handling of the Icelandic banking crisis. Whilst it was right for the Government to protect UK savers with deposits here, there are now questions about whether the authorities could have acted sooner. We need an inquiry to find out what the Government knew and when they knew it. We also need to know whether the UK authorities triggered the problems that British depositors face in the Isle of Man and Guernsey when it froze the assets of Landsbanki in the UK and put Kaupthing into administration.
The Government argued that it needed to do this because, according to Mr Darling, the Icelandic Government had ‘no intention of honouring their obligations’ to compensate British depositors. A transcript of a conversation between the Chancellor and his Icelandic counterpart is inconsistent with Mr Darling’s claims and makes his justification for freezing assets look increasingly shaky.
As the Government continues its talks with the Icelandic authorities it will have to examine the knock-on effects of its actions.
Greg’s colleague, the Shadow Financial Secretary to the Treasury, Mark Hoban MP, has written to the Treasury Minister Ian Pearson MP, calling for an independent inquiry whose remit should be to:
Mr Pearson has rejected this call for an inquiry. However, the Shadow Treasury Team will continue to press the Government for answers.
So, Greg Hands is not actually doing anything and the Conservative Party are simply calling for a public enquiry which will do nothing whatsoever to help in getting the Chancellor to return the £552Million he has frozen! This is a cynical attempt to play politics while Greg Hands' constituent languishes in a living hell!
But, it gets better! Not only does Greg Hands show he cant be bothered with anything other than investigating MP expenses, he goes on to show that he couldnt actually be bothered to read the constituents correspondence! He goes on:-
As you may be aware, the banks in the Isle of Man are not regulated by the FSA and therefore deposits with KSFIOM are not covered by the Financial Services Compensation Scheme and local arrangements apply. I understand that protection of deposits held in Kaupthing Singer & Friedlander Isle of Man (KSFIOM) is the responsibility of the IOM’s Financial Supervision Commission (FSC). You may want to contact it at the following address:
PO Box 58
Finch Hill House
Isle of Man
Absolutely incredible!!! No acknowledgement of any of the facts he was informed about and he actualy helps the Government by letting them off the hook! Does he really not think that his constituent has not already been in contact with the IoM FSCS? Which part of the correspondance did Greg Hands not understand? Shame on Greg Hands.
He then goes on the fully describe the discredited SoA and DCS and recommends contacting the IoM FSC about the Early Payment Scam (that the IoM claw back as soon as any money is available to pay out). Greg Hands could not be bothered to read his constituents email and as such completely failed to recognise the seriousness of the situation and the UK Government's responsibility in resolving the issue (how and why!).
This is as near perfect an example of an MP using Westminster more as a social club than as a place to help make the UK a better place for its citizens. Because of MPs like Greg Hands the UK Government got away with destroying the lives of thousands of hard working British Citizens. Shame on You Greg Hands and shame on the people who voted for you in the 2010 General Election.