ALLIED STEEL AND WIRE WORKERS

That this House notes the recommendations of the Parliamentary and HealthService Ombudsman, which state that former Allied Steel and Wire (ASW) workers should be paid 100 per cent. compensation for theirpension losses; further notes that the workers' pensions would have been safe if the Government had provided the protections that it assured workers had been put in place; further notes that workers and pensioners in Northern Rock, Bradford and Bingley and other failed banks have had 100 per cent. protection for their pensions, despite the existence of a Pension Protection Fund since 2005 that never promised 100 per cent. replacement for failed company workers' pensions; and calls on the Government to ensure that former ASW workers can receive 100 per cent. compensation for losses from their pension funds.