Monday, 26 July 2010
Banff & Buchan MP Dr Eilidh Whiteford has welcomed the announcement of a repayment scheme for money lost in the Equitable Life collapse but warned that, after a decade of dither and delay over compensation, this progress for policy holders must be maintained.
Commenting, Dr Whiteford said:
“Equitable Life policyholders have been badly let down – first by regulatory failure and then by a decade of dither and delay by the Labour Government over a compensation scheme.
“While the commencement of the scheme announced last week is welcome, there is still a long way to go to compensate those who invested with Equitable Life.
“It’s essential the Conservative-Liberal coalition work for a speedy and fair resolution to this sorry saga which has dragged on for far too long.”