Andrew Selous
Main Page: Andrew Selous (Conservative - South West Bedfordshire)Department Debates - View all Andrew Selous's debates with the HM Treasury
(5 years, 2 months ago)
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Bob Blackman
They have been denied proper compensation for nine years. It is time that this was settled.
Andrew Selous (South West Bedfordshire) (Con)
We know that many of the victims were retired nurses, teachers and factory or shop workers, and therefore not people of huge means, but one particular group is affected: small business owners who had no choice but to set up a pension. Does my hon. Friend agree that we owe a particular debt of honour to these small business owners who had to set up a pension and thought Equitable Life was a perfectly proper company to do that with?
Bob Blackman
Many companies in this country encouraged their employees to invest with Equitable Life thinking that it was a safe haven. In fact I can speak from personal memory, in that I was an employee of BT at the time and we were encouraged to invest in Equitable Life. Thank goodness we had a choice—I made the right choice, but I could be in the position of the victims.