Conservative Pledge Equitable Life Compensation
Published / Last Updated on 16/04/2010
Conservative Pledge Equitable Compensation For All
by Ashley Clark, Director
The Conservative Party has said it will compensate all Equitable Life policyholders if it comes to power in the next election, with no means testing.
Shadow financial secretary Mark Hoban rejected the Labour plan to means-test policyholders and compensate just those who are ‘disproportionately affected’.
The compensation could top £1 billion but apparently this amount has already been earmarked by the Treasury to pay claims.
The Equitable Members Action Group (EMAG) claims £1 billion would only cover 25% of claims.
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