There will be a Westminster Hall debate on access to and acceptance of cash during and beyond the Covid-19 pandemic on Thursday 3 December at 1:30 pm.
A House of Commons Backbench Business Debate will take place on 23 April 2020 on the following Motion.
That this House
- expresses grave concern in relation to the Government’s continued inaction in response to the injustice suffered by Equitable Life policyholders, the vast majority of whom have only received partial compensation compared to the confirmed losses directly attributed to regulatory failures;
- notes the Government’s acceptance of the Parliamentary Ombudsman’s findings to compensate victims in full following the maladministration of Equitable Life;
- further notes the concern previously expressed by the Public Accounts Committee in relation to the transparency and accuracy of the payments being made to victims;
- highlights the Government’s failure to fulfil the Committee’s request to publish an intelligible and transparent explanation to policyholders on how to verify the accuracy of the compensation they have received;
- further highlights examples of grossly inaccurate payments, adjusted only when identified by policyholders, gathered by the Equitable Members Action Group;
- notes the Government’s continued insistence that there have been no mistakes in the methodology for calculating payments to policyholders; and
Equitable Life company website [includes chronology]
Equitable Life [news: 2019-20]
Equitable Life: Parliamentary Proceedings [2000- present]
Household debt: Data on the latest household debt statistics, including net lending, mortgage interest rates and insolvencies.
Cash remains a key payment method for more vulnerable people, but its wider use is in decline, accelerated by the pandemic. How will Government and industry protect access to cash?