Margaret Ferrier
Main Page: Margaret Ferrier (Independent - Rutherglen and Hamilton West)Department Debates - View all Margaret Ferrier's debates with the HM Treasury
(3 years, 2 months ago)
Commons ChamberI congratulate the hon. Lady on her recent elevation. I take her points on board, but this is a complex area. There will need to be a range of interventions from industry, working with regulators. The LINK scheme already has a £5 million fund to help areas of great deprivation and provide extra access points for cash, but we need to recognise that technology will have to play a significant role. We will also use the extensive network of 11,500 post offices to make good on our pledge to ensure that access to cash remains available across the country.
As we have reopened our economy since the last lockdown, we have continued to provide extensive support through our £400 billion plan for jobs, protecting businesses, families and individuals. I am pleased to say that the early data on household incomes, employment, corporate insolvencies and consumer and business confidence all show that our plan for jobs is working.
Following the Treasury’s announcement of compensation to cover up to 80% of the losses of holders of mini-bonds with London Capital & Finance, will the Chancellor now also act to provide full compensation to the victims of another scandal, the collapse of Equitable Life? The vast majority have received just 22% of their losses.
I very much appreciate the hon. Lady’s raising the issue. She will know that the matter has been extensively discussed and debated for many years. The matter, after review, has been concluded and closed and is final in all respects.