Government should help charities hit by collapse of Icelandic banks

12.00.00am BST (GMT +0100) Sat 4th Apr 2009

A report from the the Treasury Select Committee calls for charities who lost deposits due to the collapse of Icelandic banks to be compensated. John Thurso MP, who is also the Liberal Democrats' Business spokesman, was pivotal in pushing for the recommendation to be included in the report.

John said that he hoped the report would persuade the Government to find the relatively small amount of money needed to compensate the charities. He argued that this action was especially important now as charities were being hit hard by the financial crisis.

The report which focuses on the Icelandic banks is the first of a series of reports from the Treasury Select Committee into the banking crisis. It was published on the 31st of March.