Anne Main blasts Minister on Equitable Life

During the debate on Equitable Life yesterday, Anne Main slammed the Government's decision to require 'means testing' for those who are to receive compensation for their losses in the collapse.

During the debate on Equitable Life yesterday, Anne Main, MP for St Albans, slammed the Government's decision to require 'means testing' for those who are to receive compensation for their losses in the collapse.

During the debate, Anne said:

"If the Minister does not realise today that there is a truly human face to this disaster, that real people are suffering and that the difference it is making to their lives is incalculable, something is very wrong. I am appalled by the idea of means-testing.

I ask the Minister to consider who would sign up to any savings or pension plan if the small print said, "By the way, if this goes wrong, you will be means-tested." I suggest that no one would do so. To introduce that concept retrospectively is appalling, and it is not just me and other hon. Members in the Chamber today who are making such remarks. People have not been hoodwinked by the Government's deciding to address the issue selectively."

Upon leaving the chamber, Anne added:

"I, along with colleagues on all sides of the house, took the opportunity in this time-limited debate to raise the frustrations and anger of my constituents who are caught up in the Equitable Life scandal.

Frankly, I am disgusted that the Minister can so complacently keep reiterating that the scheme the Government is 'choosing' to put in place, which is a far cry from the Ombudsman's suggestions, will be bureaucratic, discriminatory and lacking in justice for the victims of this pensions disaster.

I made it quite clear to the Minister that there is absolutely no justice in setting up a means tested scheme which will be difficult to assess and administer and which, in effect, puts this into the long grass. Many of my constituents affected by this are elderly and time is not on their side.

In a time of worsening economic climate, this financial mess needs to be resolved as a matter of urgency. Our front bench spokesman in the debate, Shadow Treasury Minister Greg Hands, made our position quite clear when he said 'if the Government fail to do that, we will do it when we are in Government'.

I shall continue to fight for a speedy and just resolution on behalf of all my constituents who were caught up in the Equitable Life collapse.""