Equitable Life (Payments) Bill

Debate on bills and Committee of the Whole House (HC) on Wednesday, 10 November 2010, in the House of Commons.

Equitable Life (Payments) Bill. Committee stage debate. Clause 1 amendments and new clauses debated with one amendment negatived on division (76 to 301). Clause 1 as amended agreed. Clause 2 agreed. Bill as amended reported. Third reading debate. Agreed on question and Bill passed.

Type

Parliamentary proceeding

Reference

518 c293-358

Session

2010-12

Department

Treasury

Legislative stage

Committee stage, Third reading and Report stage

Procedure

New clauses

Chamber / Committee

House of Commons chamber

Equitable Life (Payments) Bill. Explanatory notes also published (Bill 62-EN).
Thursday, 22 July 2010
Bills
House of Commons

Proceeding contributions

Jonathan Evans | 518 c295 (Link to this contribution) I have no reluctance in paying tribute to the hon. Gentleman for his independence of thought and the...

Fabian Hamilton | 518 c293-4 (Link to this contribution) I tabled my amendment because, although I am well aware that the Bill is an enabling measure, I feel...

Show all contributions (180)

Stephen Lloyd | 518 c296 (Link to this contribution) I, too, pay tribute to the hon. Gentleman for his work. It has been a pleasure to work with him on t...

Fabian Hamilton | 518 c295-6 (Link to this contribution) I thank the hon. Gentleman for his kind words. I hope that in continuing my comments I shall answer ...

Chair of Committees of the Whole House | 518 c293 (Link to this contribution) With this it will be convenient to discuss the following:

Fabian Hamilton | 518 c293 (Link to this contribution) I beg to move amendment 1, page 1, line 7, at end insert—

Jonathan Evans | 518 c311 (Link to this contribution) I do not want to delay the hon. Gentleman, who is being very generous in giving way, but if he waits...

Mark Durkan | 518 c311 (Link to this contribution) I thank the hon. Gentleman for that point, which quite properly brings me to amendment 1.

Bob Blackman | 518 c312 (Link to this contribution) I pay tribute to the hon. Members who have spoken to the amendments. I praise our Treasury team, who...

Bob Blackman | 518 c313 (Link to this contribution) I thank my hon. Friend for her intervention. The issues are complex, and the more one reads about an...

Claire O'Neill | 518 c312-3 (Link to this contribution) My hon. Friend eloquently sets out the outrage that many of us feel, having signed the pledge. Does ...

Mark Hoban | 518 c313 (Link to this contribution) May I clarify the fact that those who receive compensation and are not with-profits policyholders wi...

Mike Weir | 518 c311 (Link to this contribution) Does the hon. Gentleman not also agree that at no time did the ombudsman suggest that any group of a...

Mark Durkan | 518 c310 (Link to this contribution) That is what the hon. Gentleman is arguing. However, given that the money that we are talking about ...

Jonathan Evans | 518 c310 (Link to this contribution) I am anxious to ensure that the hon. Gentleman does not undersell what the Minister has done. The ho...

Mark Durkan | 518 c310 (Link to this contribution) My point still stands: the test is a fairly easy one. The Chadwick report was so grossly inadequate ...

Nadhim Zahawi | 518 c309 (Link to this contribution) The hon. Gentleman makes an interesting point. What I would say is that, in contrast to the quotatio...

Mark Durkan | 518 c309 (Link to this contribution) I can fully appreciate what the hon. Member for Stratford-on-Avon (Nadhim Zahawi) said about the Gov...

Nadhim Zahawi | 518 c309 (Link to this contribution) The hon. Gentleman would be right if the date were purely arbitrary. However, the ombudsman stated t...

Jim Cunningham | 518 c309 (Link to this contribution) Leaving aside the economic difficulties that we face, is not the central problem that when we put a ...

Nadhim Zahawi | 518 c308 (Link to this contribution) My hon. Friend makes a good point. However, having listed that extraordinary chronology of debacles,...

Fabian Hamilton | 518 c308 (Link to this contribution) Does the hon. Gentleman not agree that creating an arbitrary date—which is what the cut-off point wo...

Chair of Committees of the Whole House | 518 c308 (Link to this contribution) Order. Before the hon. Gentleman responds to that intervention, may I remind Members that interventi...

Nadhim Zahawi | 518 c306-7 (Link to this contribution) The hon. Member for Leeds North East (Mr Hamilton) made an impassioned and moral argument for amendm...

Richard Fuller | 518 c307 (Link to this contribution) Like many of us, my hon. Friend is wrestling with this question of fairness and with the political o...

Nadhim Zahawi | 518 c307-8 (Link to this contribution) My hon. Friend is quite right: the figure is £4.3 billion. I, too, have wrestled with the problem. I...

Stephen Lloyd | 518 c308 (Link to this contribution) I accept my hon. Friend's premise that the amount is considerably higher than the previous Governmen...

Mike Weir | 518 c304 (Link to this contribution) I should like to make a brief contribution to say that if the hon. Member for Leeds North East (Mr H...

Fabian Hamilton | 518 c305 (Link to this contribution) As I mentioned in my contribution, about half the overall £1.5 billion package will be consumed by t...

Mike Weir | 518 c305 (Link to this contribution) The hon. Gentleman is quite right. I understand that the figure quoted by EMAG is about 15% of their...

Frank Dobson | 518 c305-6 (Link to this contribution) I shall speak very briefly in support of all three amendments in this group—those tabled by my hon. ...

Chris Leslie | 518 c301-4 (Link to this contribution) I should like to speak to amendment 2, which is grouped with amendment 1, tabled by my hon. Friend t...

Fabian Hamilton | 518 c299 (Link to this contribution) That is a good point, and it was made during the previous Parliament, in February, at a packed meeti...

Mark Hoban | 518 c299 (Link to this contribution) Before the hon. Gentleman continues, let me just make it clear that long ago we established the fact...

Fabian Hamilton | 518 c298-9 (Link to this contribution) The hon. Gentleman makes a very good point, and I cannot give him a precise answer. The figures that...

Jim Shannon | 518 c299 (Link to this contribution) Can the hon. Gentleman clarify that last point? Obviously, since our last debate on the subject in t...

James Morris | 518 c300 (Link to this contribution) Does my hon. Friend agree that we would not be in this situation, or have to have this conversation,...

Fabian Hamilton | 518 c299 (Link to this contribution) I thank the Financial Secretary for clarifying that point, which somewhat contradicts what I said ea...

Jonathan Evans | 518 c299-300 (Link to this contribution) I am very pleased to have the opportunity to participate in this debate, but may I begin by declarin...

Stephen Hammond | 518 c300-1 (Link to this contribution) I have taken part in a number of these debates during my short period as a Member, and, unlike some ...

Jonathan Evans | 518 c301 (Link to this contribution) I am grateful to my hon. Friend for that contribution. He approaches the issue with significant expe...

Fabian Hamilton | 518 c296-7 (Link to this contribution) I thank the hon. Gentleman for his kind remarks about the work I have done but, as the Committee wil...

Andrea Leadsom | 518 c297 (Link to this contribution) Does the hon. Gentleman accept that there might be more support for the amendment if it did not incu...

Fabian Hamilton | 518 c297 (Link to this contribution) Yes, of course the amendment would attract far more support if there was a net zero cost. However, t...

Frank Dobson | 518 c297 (Link to this contribution) Does my hon. Friend agree that if there is a moral case to compensate anybody, there must be a moral...

Fabian Hamilton | 518 c297 (Link to this contribution) I thank my right hon. Friend for that. He is right. It is galling when the very vulnerable and frail...

Jonathan Evans | 518 c298 (Link to this contribution) I am grateful to the hon. Gentleman, who is being extremely generous in giving way. I fully accept t...

Fabian Hamilton | 518 c298 (Link to this contribution) I thank the hon. Gentleman for his intervention. First, there would be relatively few annuitants fro...

Jim McGovern | 518 c298 (Link to this contribution) Actuaries are sometimes disdainfully referred to as people who found accountancy too exciting, but s...

Fabian Hamilton | 518 c298 (Link to this contribution) I thank my hon. Friend for making that very good point. We are talking about many hundreds of thousa...

Richard Fuller | 518 c298 (Link to this contribution) I thank the hon. Gentleman for giving way again. This has been a long-standing issue, and perhaps he...

Mike Weir | 518 c353-4 (Link to this contribution) No one is going to oppose the Bill's Third Reading, for the simple reason that, if it fell, no one w...

Lord Beith | 518 c354-5 (Link to this contribution) I must declare an interest in that I have a very small Equitable Life policy—so small that I do not ...

Bob Blackman | 518 c353 (Link to this contribution) Indeed. That is the clear duty of the coalition Government, and that is why I wholeheartedly praise ...

Richard Graham | 518 c358 (Link to this contribution) Does my hon. Friend not agree that it is a real scandal that no settlement was made during the long ...

David Rutley | 518 c358 (Link to this contribution) I agree. It is a tragedy that this has taken this long. Today's debate has been reasonable, but I fe...

Mark Durkan | 518 c355-7 (Link to this contribution) This is a Third Reading debate, and I do not believe that the House should, or will, divide on the B...

David Rutley | 518 c357-8 (Link to this contribution) Like many others hon. Members, I have had a huge amount of correspondence on this issue. I have also...

Chris Leslie | 518 c349-50 (Link to this contribution) I am not going to claim that everything in the garden was rosy in the period that elapsed between th...

Marcus Jones | 518 c350 (Link to this contribution) Will the hon. Gentleman explain the inactivity on the matter while his party was in government, part...

Speaker | 518 c350 (Link to this contribution) Order. Before the hon. Member for Nottingham East (Chris Leslie) answers, may I remind the House tha...

Chris Leslie | 518 c350 (Link to this contribution) Indeed, Madam Deputy Speaker. It is certainly incumbent on us all to be brief as far as we can. I ha...

Nadhim Zahawi | 518 c350-1 (Link to this contribution) The mere fact that it is 10 November 2010 and I am standing here delivering a speech on Third Readin...

Bob Blackman | 518 c352 (Link to this contribution) I am privileged to follow my co-chair of the all-party group that is seeking justice for the policyh...

Nadhim Zahawi | 518 c353 (Link to this contribution) Does my hon. Friend agree that if the previous Government had acted, and acted sooner, more compensa...

Bob Blackman | 518 c353 (Link to this contribution) If the Labour Government had acted when they should have done, £1.5 billion would have represented 1...

James Morris | 518 c353 (Link to this contribution) Many Members have talked about the moral imperative behind sorting out the situation, but does my ho...

Conor Burns | 518 c349 (Link to this contribution) Will the shadow Minister at least concede that one of the greatest groups of victims—some were in my...

Charlie Elphicke | 518 c349 (Link to this contribution) I thank the hon. Gentleman for giving way. I know him to be a generous Member of the House. With his...

Mark Hoban | 518 c349 (Link to this contribution) The previous Government took six months to dither over what they would do about the ombudsman's repo...

Chris Leslie | 518 c349 (Link to this contribution) I disagree with that. The hon. Gentleman certainly did not say before the general election that this...

Chris Leslie | 518 c349 (Link to this contribution) We will not know that, because Chadwick's report was published after the general election. We had a ...

Conor Burns | 518 c349 (Link to this contribution) Will the hon. Gentleman give way?

Chris Leslie | 518 c349 (Link to this contribution) I have given way to the hon. Member for St Albans (Mrs Main) several times, so I shall give way to t...

Anne Main | 518 c349 (Link to this contribution) Will the hon. Gentleman give way?

Harriett Baldwin | 518 c315 (Link to this contribution) My hon. Friend is obviously extremely knowledgeable on this subject. Does he agree that this is perh...

Marcus Jones | 518 c313 (Link to this contribution) When my hon. Friend signed the EMAG pledge, as many hon. Members across the House have done, did he ...

Bob Blackman | 518 c313-4 (Link to this contribution) I and all the others who are new to the House signed the pledge in the belief that, if we were elect...

Sarah Wollaston | 518 c314 (Link to this contribution) This is not just a question of fairness. Many of those individuals are older and very vulnerable ind...

Bob Blackman | 518 c314 (Link to this contribution) My hon. Friend clearly demonstrates that we are talking about the oldest and most vulnerable people,...

Nadhim Zahawi | 518 c314 (Link to this contribution) What action would my hon. Friend recommend? My hon. Friend the Member for Cardiff North mentioned th...

Bob Blackman | 518 c314 (Link to this contribution) Clearly, if exorbitant bonuses were attached to certain policies, the policyholders would not be due...

Jonathan Evans | 518 c314 (Link to this contribution) In regard to the morality of the issue, I agree with many of my hon. Friend's arguments. My concern,...

Bob Blackman | 518 c314-5 (Link to this contribution) The independent commission will need to look at the relative loss that individual policyholders have...

Bob Blackman | 518 c313 (Link to this contribution) I thank the Minister for his intervention. I was going to refer to that while I was responding to th...

John Baron | 518 c320 (Link to this contribution) My hon. Friend is being generous in giving way. No one suggests that the situation is not difficult,...

Mark Hoban | 518 c320-1 (Link to this contribution) The parliamentary ombudsman's findings were clear: she said that the maladministration started in 19...

Jonathan Evans | 518 c321 (Link to this contribution) I was interested in the way in which my hon. Friend dealt with my point about over-bonusing, but I f...

Bob Blackman | 518 c319 (Link to this contribution) But will the Minister answer the moral issue? At the time when people were making investment decisio...

Mark Hoban | 518 c319 (Link to this contribution) When people made the decision on the information available to them, the relevant information was not...

Mark Durkan | 518 c319 (Link to this contribution) The Minister is in danger of asking the Committee to accept the notion that customer ignorance can b...

Mark Hoban | 518 c320 (Link to this contribution) I do not agree with that point. There is a clear principle: the basis on which people were investing...

Mark Hoban | 518 c319 (Link to this contribution) The ombudsman is concerned about people who invested in Equitable Life who might not have done so ha...

Mark Hoban | 518 c319 (Link to this contribution) Let me continue. We are excluding that group of people because they took out policies before any ma...

Mark Hoban | 518 c319 (Link to this contribution) The hon. Gentleman makes an assumption that the scheme is open-ended, but it is designed to compensa...

Mike Weir | 518 c319 (Link to this contribution) Will the Minister explain further, as I do not quite understand? He seems to be saying that only tho...

Fabian Hamilton | 518 c319 (Link to this contribution) I accept the Minister's point about the date not being arbitrary, but does he not accept that the re...

Nadhim Zahawi | 518 c318 (Link to this contribution) Is it not precisely the point that, rather than being an open-ended compensation scheme, the scheme ...

Mark Hoban | 518 c317-8 (Link to this contribution) I start by referring to the closing question from my hon. Friend the Member for Nuneaton (Mr Jones)....

Bob Blackman | 518 c315 (Link to this contribution) That is clearly where our moral duty arises. If policyholders are trapped and cannot adjust their po...

Alan Reid | 518 c315-6 (Link to this contribution) I start by putting firmly on the record my belief that the Government have implemented the parliamen...

Mark Durkan | 518 c329 (Link to this contribution) Yes, I do. There is no escaping the constraints that the cap will create. In the last group of amend...

Mark Durkan | 518 c329 (Link to this contribution) I do not believe that the hon. Member for Harrow East, for example, is trying to sow or fertilise lo...

Mark Durkan | 518 c330 (Link to this contribution) If the right hon. Gentleman had been here for the debates on earlier amendments, he would know that ...

Lord Dodds of Duncairn | 518 c329-30 (Link to this contribution) I understand what the hon. Gentleman is saying, but Ministers are there to take decisions. They list...

Mark Hoban | 518 c330-1 (Link to this contribution) I take the same view as the right hon. Member for Belfast North (Mr Dodds) on the responsibility of ...

Mark Hoban | 518 c331-2 (Link to this contribution) My hon. Friend makes an important point. There are two aspects to it. First, in respect of Equitable...

Mark Hoban | 518 c321-3 (Link to this contribution) I want to make some more progress. The fact that with-profits annuitants who bought their annuities...

Mark Durkan | 518 c321 (Link to this contribution) Will the Minister give way?

Mark Hoban | 518 c321 (Link to this contribution) I was trying to make two points. First, those policyholders were excluded from the calculation of re...

Chris Leslie | 518 c326-8 (Link to this contribution) I shall speak to amendments 3 and 4, which stand in my name and the names of my hon. Friends. Amendm...

Chair of Committees of the Whole House | 518 c326 (Link to this contribution) With this it will be convenient to discuss the following:

Chris Leslie | 518 c326 (Link to this contribution) I beg to move amendment 3, page 1, line 7, at end insert—

Fabian Hamilton | 518 c323 (Link to this contribution) I am grateful to the Minister for his clear explanation of his rationale for the compensation scheme...

Mark Durkan | 518 c328-9 (Link to this contribution) Obviously we are waiting to hear what the Government will say about their amendment, but the other a...

Bob Blackman | 518 c328 (Link to this contribution) I shall speak to new clause 1, which I tabled, but I made a long speech on the earlier group of amen...

Chris Leslie | 518 c336 (Link to this contribution) The amendment is intended to draw out more information specifically about the timing of the compensa...

Chair of Committees of the Whole House | 518 c335 (Link to this contribution) With this it will be convenient to discuss amendment 8, in page 1, line 7, at end insert—

Mark Hoban | 518 c337-8 (Link to this contribution) Let me deal with amendments 5 and 8. We have stated that our ambition is to commence payments in the...

Bob Blackman | 518 c336-7 (Link to this contribution) I rise to support amendment 8. I do not want to go over all the ground that we covered in debating t...

Chris Leslie | 518 c335 (Link to this contribution) I am grateful to the Minister for setting out the information about the preferred vehicle for the pa...

Chris Leslie | 518 c335 (Link to this contribution) I beg to move amendment 5, page 1, line 7, at end insert—

Mark Hoban | 518 c339 (Link to this contribution) The hon. Gentleman makes an important point, which gives me the opportunity to clarify the make-up o...

Chris Leslie | 518 c338-9 (Link to this contribution) This may be a naive question, but box 2.7 in the spending review says:"““The Government expects the ...

John Redwood | 518 c339 (Link to this contribution) Could my hon. Friend provide further clarification on the tax status of those receiving such payment...

Bob Blackman | 518 c333 (Link to this contribution) I am grateful to the Minister for outlining the appeals process, which, in this complex and complica...

Mark Hoban | 518 c332-3 (Link to this contribution) There is no requirement in the Bill to lay the scheme as a statutory instrument, but I shall ensure ...

Chris Leslie | 518 c332 (Link to this contribution) The Minister is being extremely helpful and at least setting out a sense of what the architecture of...

Mark Hoban | 518 c332 (Link to this contribution) My right hon. Friend makes an important point. I would expect the payments commission to design a pa...

Lord Beith | 518 c332 (Link to this contribution) My hon. Friend referred to cases in which the rules of the scheme might not have been correctly appl...

Mark Hoban | 518 c334-5 (Link to this contribution) I can give the hon. Gentleman that assurance. We could not use NS&I if we did not include this power...

Mark Durkan | 518 c334 (Link to this contribution) Returning to amendment 6, can the Minister assure us that it is there only to provide proper statuto...

Mark Hoban | 518 c334 (Link to this contribution) The hon. Gentleman makes an important point, and it is important that we are able to operationalise,...

Chris Leslie | 518 c333-4 (Link to this contribution) I am grateful to the Minister for the information about National Savings & Investment being the pref...

Mark Hoban | 518 c341-4 (Link to this contribution) I beg to move, That the Bill be now read the Third time. The Government want to see justice for Equ...

Chris Leslie | 518 c344-5 (Link to this contribution) The short debate that we have had has covered a set of specific issues, largely arising from the Gov...

Mark Hoban | 518 c340-1 (Link to this contribution) My hon. Friend is right. The old saying is that the best way of keeping a secret is to make a speech...

Chris Leslie | 518 c341 (Link to this contribution) The Minister has put on record some helpful information about the timing of the payment arrangements...

Jonathan Evans | 518 c346 (Link to this contribution) Will the hon. Gentleman give way?

Mark Hoban | 518 c345 (Link to this contribution) I appreciate that the hon. Gentleman is new to this topic, but we have already clearly expressed our...

Chris Leslie | 518 c345-6 (Link to this contribution) I am glad that the Minister has been able to reiterate points that he did not make in his Third Read...

Jonathan Evans | 518 c346 (Link to this contribution) The hon. Gentleman seems to be suggesting that £1.5 billion does not amount to proper compensation. ...

Chris Leslie | 518 c346 (Link to this contribution) I will give way first to the hon. Member for Cardiff North (Jonathan Evans) as he has attended the e...

Lord Beith | 518 c340 (Link to this contribution) I welcome that announcement, but there is a group of people who are affected in multiple ways: those...

Mark Hoban | 518 c339 (Link to this contribution) My right hon. Friend pre-empts a point that I was going to refer to in the clause stand part debate....

Chair of Committees of the Whole House | 518 c339 (Link to this contribution) Order. There has been a very expansive debate so far, so there will not be a clause stand part debat...

Mark Hoban | 518 c339 (Link to this contribution) You are right, Ms Primarolo, we have had an extensive debate, so I will ensure that I now have my no...

Nadhim Zahawi | 518 c340 (Link to this contribution) I will test the Financial Secretary's arithmetic a little further. Has he worked out what that advan...

John Redwood | 518 c340 (Link to this contribution) I thank the Minister for an important improvement to the scheme, which I am sure is welcomed.

Mark Hoban | 518 c340 (Link to this contribution) I thank my right hon. Friend. When designing the scheme, we considered seriously how to ensure that ...

Jonathan Evans | 518 c340 (Link to this contribution) Will my hon. Friend take the opportunity, perhaps later, to issue a fuller statement on his very imp...

Chris Leslie | 518 c347 (Link to this contribution) I disagree about the pledge, and I did not sign it for particular reasons, but my point is simply th...

Anne Main | 518 c347 (Link to this contribution) Will the hon. Gentleman give way?

Chris Leslie | 518 c347 (Link to this contribution) Well, if the hon. Lady understands something different, I will give way to her again.

Anne Main | 518 c347 (Link to this contribution) Did those EMAG representatives give the hon. Gentleman some reason to suspect that they were happier...

Chris Leslie | 518 c346 (Link to this contribution) The difference between the hon. Gentleman and me is that I did not sign the EMAG pledge. I always fe...

Anne Main | 518 c347 (Link to this contribution) Will the hon. Gentleman give way?

Chris Leslie | 518 c347 (Link to this contribution) I think the hon. Lady was one such Member.

Anne Main | 518 c347 (Link to this contribution) I rise to gently chide the hon. Gentleman. We have had discussions with EMAG representatives, and I ...

Chris Leslie | 518 c348 (Link to this contribution) A reasonable point from the hon. Lady. All I am saying is that the pledge that some Members signed d...

Margot James | 518 c347-8 (Link to this contribution) There is a key point for the victims of this scandal in my constituency of Stourbridge. Most of thos...

Chris Leslie | 518 c347 (Link to this contribution) The difference is that I did not raise people's hopes for electoral purposes—because I wanted to har...

Chris Leslie | 518 c348 (Link to this contribution) Liberal Democrats need to learn that people should not make promises they cannot keep. There is a su...

Lord Beith | 518 c348 (Link to this contribution) Is it the hon. Gentleman's position that he did not promise anything, he was not going to give anyth...

Chris Leslie | 518 c348 (Link to this contribution) I completely accept that that is what it says in the detail of the ombudsman's report, but it does n...

Jonathan Evans | 518 c348 (Link to this contribution) I appreciate that the hon. Gentleman is new to his role, but I would have hoped that he had read the...

Chris Leslie | 518 c349 (Link to this contribution) I give way to my good friend from Dover.

Fabian Hamilton | 518 c351-2 (Link to this contribution) Given the shortage of time I shall be brief. The hon. Member for Stratford-on-Avon (Nadhim Zahawi) r...

Mark Hoban | 518 c318 (Link to this contribution) My hon. Friend is absolutely right. Our obligation is to compensate people for regulatory failure by...

Mike Weir | 518 c329 (Link to this contribution) Does the hon. Gentleman not feel, however, that the problem remains that the whole thing will be gov...

Anne Main | 518 c329 (Link to this contribution) I have confidence in the Treasury trying to sort this out—I am sure that the hon. Gentleman will not...

Baroness Bray of Coln | 518 c331 (Link to this contribution) I spoke about this last time we discussed the matter. Given that the message to savers from the prev...

Mark Hoban | 518 c340 (Link to this contribution) That is an important point. I am sure that a range of issues will emerge as we move through the sche...

Mark Durkan | 518 c311-2 (Link to this contribution) What a trailer for Third Reading! We will all be waiting. On amendment 1, the hon. Member for Leeds...

Nadhim Zahawi | 518 c309-10 (Link to this contribution) Just to offer some explanation, what the Government have delivered is not just better than what the ...

Jonathan Evans | 518 c300 (Link to this contribution) That is true, and the record of the outgoing Labour Government in that regard is inglorious, but I d...

Marcus Jones | 518 c316-7 (Link to this contribution) I would like to speak mainly about the position of with-profits annuitants and the pledge that I and...

Mark Hoban | 518 c333 (Link to this contribution) In that situation, there would be two aspects: first, the design that the payment scheme had applied...

Mark Hoban | 518 c340 (Link to this contribution) My hon. Friend makes an interesting point. It is difficult to calculate that because, as he will rec...

Chris Leslie | 518 c347 (Link to this contribution) Having clearly touched a nerve, it will be interesting to hear from other Members as well.

Subjects

Compensation

Financial services

Insolvency

Equitable Life Assurance Society

Pensioners

Payments

Equitable Life Ex-gratia Payment Scheme Review

Ex gratia payments

National Savings and Investments

Legislation

Equitable Life (Payments) Bill 2010-12

Link

View this Parliamentary proceeding on www.publications.parliament.uk