Mike Hancock
Main Page: Mike Hancock (Independent - Portsmouth South)Department Debates - View all Mike Hancock's debates with the HM Treasury
(9 years, 9 months ago)
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Bob Blackman
I have commended the Government for the action that they have taken to set up the scheme. At the time of the legislation, we tabled a cross-party amendment to ensure that the trapped pre-1992 annuitants would be compensated, but the Government resisted it. I am delighted that the Government saw sense after the lobbying that took place and provided a degree of compensation. The Government should be commended for ensuring that there is a compensation scheme. However, we have an independent assessment of the total amount of compensation that is due—it was not done by EMAG or by the Government, but is independent—and £2.8 billion is still due.
Mr Mike Hancock (Portsmouth South) (Ind)
The hon. Gentleman is being extraordinarily generous in giving way. There is a unanimous feeling in the House that justice needs to be done for these people. We know how much is outstanding and there is a big difference between what people are due under the existing compensation scheme and what they are actually due. Surely what we need is not a five-year plan to pay the money back, but a one-off payment that is made as soon as possible. Many of these people will die before they get their just reward.
Madam Deputy Speaker (Mrs Eleanor Laing)
Order. I appreciate that the hon. Member for Harrow East (Bob Blackman) has taken a lot of interventions and I have allowed him a lot more time than is normally the case in this sort of debate. I also appreciate that there will be further interventions and I am not suggesting that he concludes his speech immediately. However, I make a plea for very short interventions, because people who say that they are not going to make a speech, but that they would like to intervene, take up the time of people who sit here all afternoon with patience and politeness, waiting to make a speech. I will not be tolerant of long interventions, but I am tolerant of the hon. Gentleman, who is being very generous in taking so many interventions.