Equitable Life

Debate between Rehman Chishti and Mark Hoban

Thursday 22nd July 2010 Commons Chamber

[Mr Hoban]

That suggestion has been made on a number of occasions, and I thought very carefully about interim payments. It is difficult to make an interim payment before the scheme is designed. Such payments would add complexity and delay to the creation of the scheme. When the commission considers its findings, I hope it may well decide that certain groups should receive payments in priority to others.

[Rehman Chishti (Gillingham and Rainham) (Con)]

Policyholders in my constituency were pushed from pillar to post and had to get judicial review to get some accountability, but the previous Government did absolutely nothing. With regard to the timeline of making payments by the middle of May next year, what criteria will be applied as to who gets their money first?

[Mr Hoban]

That will be a matter for the independent commission. One key point for EMAG and the ombudsman was the setting up of that commission. I want to give it the maximum latitude to decide its priorities for payment and who should be paid first.