UK GOVERNMENT MUST OFFER MORE COMPENSATION OVER EQUITABLE LIFE.

UK GOVERNMENT MUST OFFER MORE COMPENSATION OVER EQUITABLE LIFE.

MIKE WEIR: ‘POLICYHOLDERS HAVE WAITED A DECADE FOR JUSTICE’.

SNP Spokesperson on Business and Enterprise, Mike Weir MP, has accused the UK Government of “acting like an old lag” in dealing with those who suffered from the collapse of Equitable Life.

Speaking in a debate on the UK Government’s response to the Parliamentary Ombudsman’s report into the Equitable Life fiasco, Mr Weir said:

“As a former court lawyer it occurs to me that the actions of the Government in relation to Equitable Life are very similar to those of an old lag appearing before a Sheriff: start with outright denial but as the evidence accumulates reluctantly accept you will have to plead, make a half hearted plea and then try to minimise or wriggle out of the consequences of your actions.”

Mr Weir posed a series of questions that needed to be answered as to who would receive compensation and when it would be made, but was scathing about the UK Government’s whole attitude:

“It is a mean minded scheme that will inevitably set policyholders against each other.

“I would appeal to the Minister even at this late stage to give this group justice and come up with a scheme that is even handed, simple and that will ensure that elderly policyholders do not have an interminable wait to see if they are to be compensated.

Speaking afterwards, Mr Weir was equally scathing about the response to the debate from the Minister, Angela Eagle, whom he said offered up “a masterclass in obfuscation.”

“The Minister spoke for nearly fifteen minutes and said absolutely nothing. Those who are awaiting justice from this Government are still no further forward and face more years of uncertainty.

“What is required is a simple scheme that gives help now to those who have already waiting nearly a decade for justice.”