I have been along standing supporter of compensation for the victims of Equitable Life. Bad regulation is partly to blame for what went wrong, and bad and slow regulatory and government resposnes since have made a bad situation worse. I have been a consistent and public proponent of the government responding promptly to the Ombudsman’s Report and making the payments. I had to do just that for the victims of Barlow Clowes when I was the responsible Minister and inherited a collapse which was partly caused by bad regulation.
The official Conservative party position, is, I am pleased to say, to make paying compensation an early priority should they win the election. All that remains to be settled is how generous it should be. I will represent local victims of this financial tragedy in any debate that follows, if elected to Parliament.
Promoted by Christine Hill on behalf of John Redwood, both of 30 Rose Street, Wokingham RG40 1XU