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Eastbourne & Willingdon Lib Dems

Lloyd welcomes the Public Account Committee’s calls for justice for Equitable Life Victims

July 31, 2013 10:02 AM

Last week Parliament's Public Accounts Committee (PAC) slammed the Treasury for unacceptable delays in repaying the victims of the Equitable Life scandal. This comes weeks after Stephen Lloyd reported to the Eastbourne Herald that there were still 200,000 people around the UK waiting to be reimbursed.

The PAC, which scrutinises all government expenditure, has criticised the Treasury for the lack of speed at which it has made the payments and the number of eligible people who have yet to be contacted. In addition the Treasury is planning to shut down the scheme in 2014, which the Committee has panned as an 'arbitrary date.' They are now supporting the calls of Equitable Life Members Action Group (EMAG) to have this deadline extended.

As Secretary of the All Party Parliamentary Group for Equitable Life Policy Holders, Stephen Lloyd has been very closely involved with EMAG and has led their push in recent weeks to get as many of the 200,000 people as possible to contact the payment scheme. It is estimated that there are over 400 eligible policy holders in Eastbourne who are yet to receive the compensation they are eligible for.

He said: "I am glad that even more pressure is being applied to the Treasury to ensure that Equitable Life Policy holders get the justice they deserve. The Public Account Committee's report will mean than more people will be made aware that they need to contact the scheme to receive their money. I have been helping EMAG raise awareness about the approaching deadline for some months now and I am hopeful that the PAC's intervention will encourage even more people to get in touch with the Treasury. I will also be writing to the Chancellor urging he extend the deadline."