EQUITABLE POLICY-HOLDERS LET DOWN FOR FAR TOO LONG - MP

Speaking up for Banff & Buchan’s Equitable Life policy holders local MP Dr Eilidh Whiteford, along with SNP colleagues, is calling for the Government to stop prevaricating and pay up.

During a debate on the Equitable Life (Payment) Bill the SNP has called for a clear deadline for the delivery of a fair compensation scheme for policyholders.

Commenting Eilidh Whiteford MP said:

“After over a decade of delay and uncertainty, it is time for the government to stop prevaricating and pay up. While progress on the Bill is a welcome step forward, the government have still given no real detail, and we need a clear timeline for the delivery of the compensation scheme.

“The Parliamentary Ombudsman has been highly critical of the Government’s serious failure to properly regulate Equitable Life and, consequently, the Government are required to compensate policy holders.

“Ministers must end the delay and uncertainty. It is disgraceful that the last Labour government left policyholders waiting for justice for so long, indeed, thousands have died since this process began.

“UK Ministers must bring forward a scheme to compensate all those who have suffered through the UK Government’s regulatory failures. They have had the summer recess to draw up a timescale for delivery of compensation but have failed to do so.

“We need a speedy and fair resolution to this saga from the new Government. Policy Holders have been let down for far too long.”