Equitable Life

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 25th January 2001.

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Photo of Ian Pearson Ian Pearson Labour, Dudley South 12:00 am, 25th January 2001

Is it not a bit rich of the Conservative party, which was responsible for the mis-selling of hundreds of thousands of pensions, to try to make political capital out of the plight of Equitable Life policyholders? Should not the industry take responsibility for bailing out those policyholders who will be affected? Is it not about time that we reviewed and got rid of the requirement compulsorily to purchase annuities?