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GOVERNMENT MUST RECTIFY EQUITABLE LIFE INJUSTICE WITHOUT DELAY - MULHOLLAND

January 15, 2009 10:25 PM

Greg Mulholland, MP for Leeds North West, has called on the Government to act to rectify the injustice suffered by thousands of Equitable Life policy holders after a statement in the House of Commons today which conceded the case for compensation.

Greg raised the cases of several of his constituents who have seen their pensions and their savings swept away as Equitable Life was allowed to sink in a speech to the House in November, accusing Ministers 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.

Commenting on today's announcement Greg said:

"It is welcome that the Government has grudgingly accepted that a compensation scheme must be put in place, at long last.

"It will finally provide some comfort to all the thousands of people who have waited in vain for compensation, but it cannot be forgotten that it comes too late for many who have died while ministers have dragged their feet.

"Now that the Government has agreed to compensation, it must make sure that this process is begun immediately, so that Equitable Life policy holders can finally get the justice they deserve without any further delay."

ENDS

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