GOVERNMENT CONTINUING TO DRAG ITS HEELS ON EQUITABLE LIFE (Montgomeryshire Liberal Democrats)

Cymraeg
English

Montgomeryshire Liberal Democrats <montlibdems@gmail.com>

GOVERNMENT CONTINUING TO DRAG ITS HEELS ON EQUITABLE LIFE

October 22, 2009 2:18 PM

Yesterday, the Government yet again ignored the Parliamentary Ombudsman's ruling and refused to take action for all Equitable Life pension holders. Despite continuing efforts from all sides of the House and the High Court to keep this issue on the political agenda, the Government are continuing to deny justice to affected pensioners.

Lembit has been contacted by policyholders in his constituency who have lost significant amounts of money from the company's collapse.

Speaking during the debate, Lembit said:

"Does my hon. Friend agree that the general public, including the 1,000 or so people in Montgomeryshire who lost money through Equitable Life, simply do not understand how this Government can resist what seems like an act of natural justice, namely following the guidance of the ombudsman? My constituents do not follow Parliament closely, but they feel that they are being treated unjustly on a matter that could be easily corrected in just the way that my hon. Friend has outlined."

Around 30,000 people have died waiting for justice and many elderly pensioners suffering drastic cuts in retirement - had to raise more than £300,000 in legal costs in order to help obtain the justice that the Government sought to deny them at the High Court last week.

Commenting on the final vote, Lembit said:

"With an estimated 15 Equitable Life policy holders dying every day, while still waiting for justice, it is vital the Government acts now to compensate all those policyholders who have lost their pensions since the collapse of Equitable Life in 1991.

"I am hugely saddened that Parliament did not fully support this motion but I and my Liberal Democrat colleagues will continue to press for compensation for all victims of the collapse."

Ends/diwedd

Notes:

The motion was tabled by the Liberal Democrats and read as follows:

EQUITABLE LIFE

That this House notes the Parliamentary Ombudsman has taken the unusual step of using powers under the 1967 Act to present Parliament with a further and final report on Equitable Life; also notes that the Public Administration Select Committee's second report on Equitable Life, Justice denied? concluded that the Government response to the Parliamentary Ombudsman's report was inadequate as a remedy for injustice; recognises the vital role the Ombudsman plays in public life; reaffirms the duty of Parliament to support the office of the Ombudsman; believes the Government should accept the recommendations of the Ombudsman on compensating policyholders who have suffered loss; notes the outcome of the Judicial Review announced on 15th October extending the period for compensation claims back to 1991; welcomes the formation of the All-Party Group on Justice for Equitable Life Policyholders; and notes with regret its necessary formation and the fact that over 30,000 people have already died waiting for a just resolution to this saga.