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Reid calls for compensation for Equitable Life policyholders
December 21, 2008 9:34 PM
Originally published by Scottish Liberal Democrats
Originally published by Scottish Liberal Democrats
Alan Reid, Liberal Democrat MP for Argyll & Bute, has criticised the Government for breaking its promise to announce its response to the Ombudsman's report on the Equitable Life scandal in the autumn.
The Government had promised Mr Reid and other MPs that they would announce their response to the Ombudsman's Report in the autumn.Alan Reid MP: Argyll & Bute
Mr Reid said, "Gordon Brown should apologise to Equitable Life policyholders and take action to deal with financial compensation. The Ombudsman's report is a damning indictment of regulatory failure. The Prime Minister should apologise for the years of delay, anxiety and unanswered questions suffered by policyholders.
"Ministers have not only completely failed to regulate Equitable Life properly, but have proven themselves utterly incapable of establishing a proper investigation into the affair. They've even broken the promise they gave in writing to me and other MPs to make an announcement this autumn."
Alan Reid has signed the following House of Commons Early Day Motion
"That this House congratulates the Parliamentary Ombudsman on her report on Equitable Life and on her decision that Equitable Life policyholders should be compensated; further notes that many pensioners are passing away without seeing justice done; and calls on the Treasury to honour the Parliamentary Ombudsman's recommendations without further loss of time and immediately open negotiations with representatives of the Equitable Life policyholders."
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