Equitable Life

Justin Madders Excerpts

Thursday 31st January 2019 Commons Chamber

[Bob Blackman]

That is a serious point. During the financial crash, the view was taken that we could not afford or allow a situation in which the banks and other institutions failed. Indeed, the position of the Government successively has been that Equitable Life was too big an organisation to allow to fail. Had it failed when it was basically trading insolvently, the Government would have needed to pick up the total cost for all those victims of the scandal.

[Justin Madders (Ellesmere Port and Neston) (Lab)]

I congratulate the hon. Gentleman and my hon. Friend the Member for Leeds North East (Fabian Hamilton) on the work that they do in the all-party parliamentary group, of which I am a member. Today provides a perfect example of how political will can transmit into effective action. We have read the stories about MPs being offered resources for their constituencies to support the withdrawal agreement; does that not show that when there is the political will, the money can be found?