Cameron 'Talks Cuts' As PMS Savers Hope

Although budget cuts are likely to dominate the agenda as NI's First and Deputy First Ministers meet Prime Minister David Cameron in London today, beleaguered Presbyterian Mutual (PMS) savers are again hoping for good news on their frozen assets.

Although Peter Robinson (pictured) and Martin McGuinness will be joined by the leaders of the Welsh Assembly and Scottish Parliament it has emerged that the Government is reconsidering the possibility of a bank takeover for the collapsed Society.

The report came from outgoing Presbyterian Moderator, the Rev Dr Stafford Carson, after a high level meeting with Secretary of State Owen Paterson.

A bank takeover - the preferred option by most observers - would mean a complete return of all monies in the short term and is probably the best possible outcome for PMS savers.

Peter Robinson has been at the forefront for the campaign to have the savers money returned and he is likely to press his case further at today's summit, which is the first time that Mr Cameron has held a joint meeting with ministers from the three devolved administrations.

However, as the meeting comes a day after the Prime Minister warned of enormous implications if cuts in public spending do not start immediately, the talks are bound focus most on the UK's ailing economy.

Yesterday, the Stormont Deputy First Minister attacked what he branded as 'Cameron's cuts statement'.

Sinn Féin's Martin McGuinness said his statement was "deeply alarming" and that he would be directly raising his concerns with the British Prime Minister in London today.

"Now is the time to build and invest in our economy. To create growth and increase the tax take.

"We are about securing and developing effective front line services, tackling duplication and over administration," he said in advance of the meeting.

"You cannot 'cut yourself out of recession' and the direction that this Tory government appears to be going down risks the very recovery which we should be trying to protect," he insisted.

See: Special Meeting Called To Discuss PMS Proposals