RORY PLEDGES TO CONTINUE EQUITABLE LIFE FIGHT AS £80M COMPENSATION BOOST ANNOUNCED IN SUMMER BUDGET
Local MP Rory Stewart, who has worked closely with his parliamentary colleagues for years on assisting constituents who have suffered significant financial losses as Equitable Life policyholders, today welcomed the Chancellor’s acknowledgement of their long-standing fight for justice, in a mention in the Budget Statement delivered in Parliament.
The Chancellor announced today a further package of support for the neediest victims of the near-collapse of Equitable Life, many of whom live in Penrith and The Border. The £80 million will now be redistributed to the most needy policy holders who already received a compensation package. The Chancellor will double the compensation payment to anyone who is receiving pension credit. It is estimated that up to 85,000 people will benefit from the new payment.
Rory Stewart said today: “It is great to get recognition in the Budget of the continuing distress and upset that those affected by the Equitable Life scandal continue to suffer. It is unbelievably stressful for the residents of Penrith and The Border who continue to fight for their substantial financial losses, and they have been left in a very difficult position. I continue to offer them any support I can.”