Equitable Life

Part of the debate – in the House of Commons at 12:31 pm on 31 January 2019.

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Photo of Bob Blackman Bob Blackman Conservative, Harrow East 12:31, 31 January 2019

That is a serious point. During the financial crash, the view was taken that we could not afford or allow a situation in which the banks and other institutions failed. Indeed, the position of the Government successively has been that Equitable Life was too big an organisation to allow to fail. Had it failed when it was basically trading insolvently, the Government would have needed to pick up the total cost for all those victims of the scandal.