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Sarah Newton speaks out in Equitable Life Debate

Truro and Falmouth M.P. Sarah Newton was pleased to be able to join the Westminster Hall Debate on Equitable Life held on the 20^th July.

Having pledged to fight for fair and speedy compensation for Equitable Life policyholders before the General Election, Sarah reminded those present that full compensation for policyholders was a Conservative Party manifesto pledge. She also made the case that the paying of fair compensation to Equitable Life policyholders was a necessary step towards encouraging a savings culture.

The full quote can be found through the below link:

http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm100720/halltext/100720h0002.htm#10072021000588

After pressing Mr Mark Hoban M.P., Financial Secretary to the Treasury, to provide full and fair compensation to policyholders Sarah listened to his statement in the House on the 22^nd July with interest. Whilst welcoming his commitment to begin payouts in 2011 she was concerned by his suggestion that the recompense would fall short of the £1 billion previously expected. The full statement can be found through the below link:

http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm100722/debtext/100722-0001.htm#10072245001829

Sarah will continue to press for a just settlement for Equitable Life policyholders in her constituency and will be speaking when the Governments proposals are fully debated on 11^th September. She has invited concerned constituents to share their opinion on Mr Hoban’s statement with her and intends to include those concerns in her contribution to the debate.

22nd July 2010