Family business take case to the Treasury - The Redditch Standard

Family business take case to the Treasury

Redditch Editorial 5th Feb, 2015 Updated: 18th Oct, 2016   0

THE CASE of a Stockwood family who lost their business due to the mis-selling of interest rates has been taken all the way to the Treasury.

Karen Lumley MP took constituent Sebastian Parsons from Elysia to a meeting with MPs Andrea Leadsom, Economic Secretary to the Treasury, and Gutto Bebb, chair of the all-party Parliamentary group on interest rate mis-selling, to discuss the situation.

The Standard reported last year how the family from near Inkberrow lost their business after being persuaded to swap their interest rates, losing out on £7million as a result according to an accountant.

Mrs Lumley said: “The Parsons are a very enterprising family who, as well as running their family business, have done so much great work in my local community, particularly in setting up a community benefit society.

“As a consequence of mis-selling they lost their business and our local economy lost 40 much-needed jobs as a consequence.

“It has been said many times that small business owners are the backbone of this country.

“We should not allow them to be treated this way. People have really suffered and are still suffering.”


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