News

Many angry and concerned residents of Luton have contacted me and my fellow candidate for Luton North, Jeremy Brier, in the last few months expressing concern about Equitable Life and the Government's handling of the issue.  Many Equitable LIfe policy holders here in Luton have lost money because of the inadequate regulation and inexcusable delays in dealing with the issue by the Government.

The Parliamentary Ombudsman last year issued a damning indictment of the Government’s handling of Equitable Life. Her report concludes that there was a series of regulatory failures that led to many policyholders suffering losses and that the Government should make payments to them because of this.

We, the Conservatives, forced the Government to extend the Ombudsman’s remit to enable her to undertake this investigation and we should take the credit for this. The outcome of her investigation fully justifies that stance.