Edinburgh South Liberal Democrats demand results for Equitable Life Policyholders

11.42.00am BST (GMT +0100) Wed 17th Jun 2009

Local Liberal Democrats have backed a call by Liberal Democrat Shadow Chancellor Dr Vince Cable MP for Ministers to establish an adequate compensation scheme to recompense individuals that lost money as a result of Government maladministration.

Edinburgh South Liberal Democrat Westminster Spokesperson Fred Mackintosh said, "I am again being contacted by many local residents who lost significant sums in the collapse of Equitable Life. They are disgusted with the Government's proposal to offer inadequate compensation and means test it. Now that the Parliamentary Ombudsman has published a second report it seems likelihood of individuals receiving adequate compensation for their financial losses will be small without significant new concessions from the Government."

It is estimated that 30,000 people across the UK have already died waiting for a just resolution to the Equitable Life saga.

On 11 May 2009 Labour Leader of the House Harriet Harman MP rejected a call by Alan Reid, Liberal Democrat MP for Argyll & Bute, for a parliamentary vote on a compensation scheme for Equitable Life policyholders.

Related Link:

Link to Parliamentary Early Day Motion by Vince Cable MP on the subject of Equitable Life.