Equitable Life Justice Must Be Swift - Willott

12.00.00am GMT Thu 15th Jan 2009

Commenting on today's Government statement on the collapse of Equitable Life, Jenny Willott, Shadow Lib Dem Chancellor of the Duchy of Lancaster and MP for Cardiff Central, said: "The Government's acceptance of a compensation scheme is a welcome turn around after what has been such an appalling and drawn out saga.

"The Government's acceptance of a compensation scheme is a welcome turn around after what has been such an appalling and drawn out saga.

"The endless delays by this Government have transformed what was a story of Tory cock ups into one of Labour's abject failures. Many policyholders have died while ministers have dragged their feet.

"The Government has been desperate to avoid paying compensation. But after bailing out the banks, Equitable Life investors have not been able to understand why they should be treated less favourably.

"The Government must not drag their feet any longer. Compensation to all those affected must be fast-tracked to rectify this festering injustice quickly."