News from British and Canadian Conservatives

Tuesday, May 08, 2007

UK censured over pensions crisis as Labour bury their Ed in the sand

The BBC reports:
A European Parliament committee probing the scandal of insurer Equitable Life has urged Britain to compensate policyholders who lost savings. The committee's damning report says the UK government bears responsibility, because it did not comply with EU law that would have protected them.


Amazingly, several senior government representatives declined to attend. These included Ed Ball - Economic Secretary to the Treasury and Gordon Brown's right hand man, and Des Browne, formerly a Treasury financial secretary, now the Defence Secretary.

It says a lot for the way that this government is treating pension funds when those responsible refuse to attend this kind of investigation. We often talk of the EU's "democratic deficit", but Europe's positively open compared to the Brown-Blair Labour regime.

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