Equitable Life
Debate between Chi Onwurah and Bob Blackman(5 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Bob Blackman
Thus far my constituency has not been offered any additional funds for my voting for anything—that is not the basis on which I vote in this House—but I can understand the hon. Gentleman’s concern.
Chi Onwurah (Newcastle upon Tyne Central) (Lab)
Many of my constituents who have been affected by the Equitable Life issue regard the APPG as their only voice in not only this place, but the country. Does the hon. Gentleman agree that the failure to compensate the Equitable Life victims not only has a hugely detrimental effect on their lives, with their not be able to retire in the comfort that they deserve, as they thought they would, but also affects faith in this House and in the pensions system at a time when people are living longer and need to be doing more to prepare for retirement?
Bob Blackman
It is clearly a view that people are not saving in the way in which they used to. Young people are being discouraged from saving as a result of what they see as the scandals that took place.