The Committee on Equitable Life met today to finalise its conclusions and recommendations, which all members supported with the exception of the Socialist Group.

Sir Robert Atkins MEP and Deputy Leader of the Conservative Delegation in the European Parliament, said that British Labour MEPs are seeking to wreck the proposed report on the basis that it criticises the British Financial Regulators and therefore, by implication, the British Labour Government.

Sir Robert commented:

“This would be folly, since those who presented us with evidence of deceit; failure and incompetence - the pensioners - want the finger pointing somewhere.

“This sensible constructive report does just that and Socialists will be letting down those who suffered financial and personal loss if the report is rejected.”

Over one million UK policy holders and more than 15,000 policy holders in Ireland and Germany incurred losses to their pensions, savings and investments.

The final vote will take place in Committee in May, and is expected to go to plenary in June.

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