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Woollard faces a carpeting in House of Lords

Carpetbagger-in-chief Fred Woollard is to come under attack in the House

of Lords during the last week of campaigning over the future of Standard

Life.

Labour peer Lord Faulkner of Worcester plans to raise a debate about

mutuality in financial services.

He hopes to touch upon what he sees as the benefits of mutuality for

consumers and point out the weaknesses of Woollard&#39s campaign.

Faulkner plans to use Nationwide Building Society as an example of a

company which has staved off a challenge from carpetbaggers.

Despite being a policyholder who stands to “make thousands” from Standard

Life demutualising, Faulkner is convinced of the benefits of mutuality. He

has worked as a consultant for Standard.

He says: “I want to draw attention to the value mutual companies give to

financial services and the competition they offer to consumers.”

The Scottish National Party says if Standard Life demutualises, it would

be a huge blow to the Edinburgh economy. SNP deputy leader John Swinney is

calling for policyholders to vote against conversion at Standard&#39s special

general meeting on June 27.

Swinney says: “Standard Life is a company of greatsignificance to the

Scottish economy. I fear if it goes ahead and demutualises, the local

Edinburgh economy might be harmed.”

MSP Margot MacDonald raised a debate in the Scottish Parliament, calling

for support of Standard Life&#39s mutuality.

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