12 May 2009
Barrett calls for action on Equitable Life injustice
John Barrett, Liberal Democrat MP for Edinburgh West has today taken action to force the Government to properly compensate the million people who have been affected by the Equitable Life collapse.
Mr Barrett has today launched a Commons Motion demanding that the Government immediately accept the recommendations of the Parliamentary Ombudsman, who last week criticised the Governments handling of the Equitable Life scandal.
The Parliamentary Ombudsman have made ten key recommendations including the establishment of a fair compensation scheme.
Speaking from Westminster, Mr Barrett said:
“While the Government has offered billions of pounds to the banks and shareholders, almost nothing has been done to help the Equitable Life policy holders who have lost so much of their life investments.
“We have had to wait over 5 years while the Government dragged their feet over any action to help policy holders and as a result over 32,000 policy holders have died waiting for a response.
“I am pleased that the Ombudsman’s final report has taken the Government to task over their inadequate response. We now need all of the recommendation accepted in full and implemented immediately.”