"GOVERNMENT NEEDS TO TAKE ITS HANDS OUT OF ITS POCKETS AND COMPENSATE EQUITABLE LIFE MEMBERS" - MULHOLLAND
November 25, 2008 12:04 PM
Greg Mulholland, MP for Leeds North West, has called upon the Government to respond immediately to the report by the Parliamentary Ombudsman on Equitable Life, and agree to implement its recommendations in full - beginning by opening immediate compensation talks with Equitable Life savers.
Greg accused the Government, in his speech today in a debate on Equitable Life in Parliament, of shocking negligence and complacency in dealing with Equitable Life, and in causing delays meaning that many Equitable Life policy holders have died while waiting in vain for compensation.
Mr Mulholland raised the case of several of his constituents who have seen their pensions and their savings swept away as Equitable Life was allowed to sink.
Commenting Greg said:
"The last 8 years have seen a shocking history of negligence, mismanagement and outright failure on the part of the Government in regards to Equitable Life, first completely failing in its job as regulator, and then to provide any compensation to the thousands of Equitable Life members.
"Yet even now it is still delaying this process, despite the fact that thousands of Equitable Life policy holders have already died1 while they have been waiting in vain for the compensation that is rightfully theirs.
"The Government needs to take its fingers out of its ears, and its hands out of its pockets, and rectify this massive injustice."
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