HOME INCOME SCHEMES

That this House notes with great concern the anxiety and distress caused to so many elderly pensioners who took out wholly unsuitable home income schemes based on investment bonds following highly suspect advice from financial advisers; draws attention in particular to the role played by the Cheltenham and Gloucester Building Society in respect of schemes peddled by the now defunct Aylesbury Associates; and calls for an urgent inquiry into the history of this sad affair in order to ensure a proper level of compensation for the victims of these schemes and to ensure that appropriate steps are taken, if necessary by legislation, to prevent a recurrence of these tragic events.