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6 May 2009

Government ducking its responsibilities to Equitable Life policy holders

John Barrett, Liberal Democrat MP for Edinburgh West today accused Ministers of ducking their responsibilities to Equitable Life Policy Holders after the Parliamentary Ombudsman criticised the Governments lack of action.

The new Ombudsman’s report on Equitable Life expressed ‘deep disappointment’ over the Governments approach. Mr Barrett has called for the Government to immediately accept the Ombudsman’s recommendations and establish a fair compensation scheme.

John Barrett said:

“The Ombudsman found evidence of both maladministration and injustice in the Government’s regulation of Equitable Life, findings which ministers rejected without basis.

“After bailing out both Icelandic and nationalised bank depositors, Equitable Life investors now need to receive the same level of treatment.

“In the current financial crisis we need a positive response from the Government if it is to give people the confidence to save again.”

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This website was established while I was a Member of Parliament. The site content is being kept online as a source of information, but all forms / email have been disabled.