29 October 2009
Last week Parliament debated a motion, co-sponsored by the Conservatives, condemning the Government’s conduct over Equitable Life and calling for a speedy resolution to this protracted injustice.
This is not a partisan issue and there has been cross-party support for the campaign to help the many people whose lives have been badly affected by the collapse of Equitable Life.
Unfortunately the Government has frustrated the fight for justice for policyholders throughout the process, first claiming that the issue was outside the remit of the Parliamentary Ombudsman. When the Parliamentary Ombudsman finally reported the Government took six months to respond, and even rejected some of her findings of injustice. It has taken a judicial review to get the Government to finally accept responsibility.
Each delay has meant that policyholders have to get by on much reduced pensions and each delay has meant that sadly some people will never see justice as policyholders die. It is understood that a scheme may be in place by Spring 2010 but the responsible Minister would not say when people would finally get compensation.
In May 2009 the current Reading West MP Martin Salter signed Early Day Motion 1423 (EDM) which called the Government’s response to the Ombudsman’s report inadequate, and called for the Government to accept the recommendations of the Ombudsman by compensating policyholders who have suffered loss. Mr. Salter was then asking the Government to accept the recommendations of the Ombudsman by urgently compensating policy holders who have suffered loss. However last week Mr. Salter changed his mind and voted with his Labour Government to delay compensation. Unlike Mr. Salter some Labour MPs voted against the Government.
Alok Sharma, the Conservative Parliamentary Candidate for Reading West, said: “Over the past year I have had many Equitable Life policy holders living in the Reading West constituency write to me expressing their frustration at the amount of time it is taking for the Government to resolve this issue and make compensation payments and I am sure they will be bitterly disappointed to learn that Mr. Salter has let them down very badly in Parliament.”
Alok added: “Over 30,000 people across the country have already died waiting for a just solution to this saga and campaigners are asking themselves how many more must die before the Government delivers justice. Conservatives have been clear from the start on this issue. If the Ombudsman found there was maladministration due to regulatory failure and that compensation was required, we would accept those findings. That was our position when the Ombudsman published her report last year. It is our position today and we are committed to resolving this as speedily as possible.”
This is not a partisan issue and there has been cross-party support for the campaign to help the many people whose lives have been badly affected by the collapse of Equitable Life.
Unfortunately the Government has frustrated the fight for justice for policyholders throughout the process, first claiming that the issue was outside the remit of the Parliamentary Ombudsman. When the Parliamentary Ombudsman finally reported the Government took six months to respond, and even rejected some of her findings of injustice. It has taken a judicial review to get the Government to finally accept responsibility.
Each delay has meant that policyholders have to get by on much reduced pensions and each delay has meant that sadly some people will never see justice as policyholders die. It is understood that a scheme may be in place by Spring 2010 but the responsible Minister would not say when people would finally get compensation.
In May 2009 the current Reading West MP Martin Salter signed Early Day Motion 1423 (EDM) which called the Government’s response to the Ombudsman’s report inadequate, and called for the Government to accept the recommendations of the Ombudsman by compensating policyholders who have suffered loss. Mr. Salter was then asking the Government to accept the recommendations of the Ombudsman by urgently compensating policy holders who have suffered loss. However last week Mr. Salter changed his mind and voted with his Labour Government to delay compensation. Unlike Mr. Salter some Labour MPs voted against the Government.
Alok Sharma, the Conservative Parliamentary Candidate for Reading West, said: “Over the past year I have had many Equitable Life policy holders living in the Reading West constituency write to me expressing their frustration at the amount of time it is taking for the Government to resolve this issue and make compensation payments and I am sure they will be bitterly disappointed to learn that Mr. Salter has let them down very badly in Parliament.”
Alok added: “Over 30,000 people across the country have already died waiting for a just solution to this saga and campaigners are asking themselves how many more must die before the Government delivers justice. Conservatives have been clear from the start on this issue. If the Ombudsman found there was maladministration due to regulatory failure and that compensation was required, we would accept those findings. That was our position when the Ombudsman published her report last year. It is our position today and we are committed to resolving this as speedily as possible.”
