Williams: Coalition has done more for Equitable Life victims in 10 weeks than Labour did in 10 years
by Stephen Tall on July 24, 2010
Here’s an important story that Lib Dem Voice omitted to give the space it deserves this week:
Commenting on the Coalition Government’s announcement that it has introduced a Bill to compensate Equitable Life policyholders, Co-Chair of the Liberal Democrat Treasury Policy Committee, Stephen Williams said:
“The Labour Government had 10 years to help the those who had their lives ruined by the collapse of Equitable Life and did nothing. In just 10 weeks the Coalition Government has taken real action to ensure that those who saw their pensions and life savings hit hard get the compensation they deserve.
“Liberal Democrats have long campaigned for proper compensation for Equitable Life policyholders and committed to it in our election manifesto. This announcement is further proof of our influence in Government.”
Here is what the the Lib Dem 2010 election manifesto said:
We will make pensions and benefits fair and reward savers by … Meeting the government’s obligations towards Equitable Life policyholders who have suffered loss. We will set up a swift, simple, transparent and fair payment scheme.”
And here’s what the Lib Dems tried to do while in opposition in the last Parliament:
- Vince Cable tabled an Opposition Day Motion on 21 October 2009.
- Vince Cable tabled a cross-party EDM in May 2009 urging the Government to accept the Parliamentary Ombudsman’s recommendations on compensating Equitable Life policyholders.
But it’s only in Government the Lib Dems have now been able to take action to right a Labour wrong.