Equitable Life
Debate between Sarah Newton and Baroness Blackwood of North Oxford(14 years, 4 months ago)
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Nicola Blackwood
That is the message I receive in my post box day after day, and I am sure that many colleagues have similar cases.
The second problem we face is uncertainty. For decades, Equitable members have been treated with the utmost contempt by the management of Equitable Life, the regulators and, latterly, the Labour Government, who refused to give them clear answers, denied their claims of injustice, even in the face of all the evidence and, even after accepting some measure of responsibility, have consistently refused to give the victims any indication of the timetable or costing.
Sarah Newton (Truro and Falmouth) (Con)
Does my hon. Friend agree that, as we are determined to rebuild a savings culture, in addition to honouring our manifesto pledge, it is vital that people can invest in pensions with confidence, knowing that they will be compensated if those are mis-sold?
Nicola Blackwood
I agree entirely. A key concern during the general election campaign was the fear that the saving culture in this country, which for so long had been part of our economy, had been completely destroyed. We must do everything we can to avoid entrenching that destruction.