Kip Waistell of Vowchurch, Herefordshire, says MPs have failed to honour a promise (From Hereford Times)

Kip Waistell of Vowchurch, Herefordshire, says MPs have failed to honour a promise

8:00am Tuesday 15th May 2012 in Letters

MPs knew before the election the cost of compensating Equitable policyholders like myself who had been victims of a government failure to regulate, and they pledged to compensate them properly in accordance with the recommendations of the ombudsman.

However, once in government – on the back, to an extent, of such pledges – MPs, including our own, have failed their constituents.

More than 900,000 of the hardworking population who did the right thing and saved for retirement will now get only a fraction of their losses, and a small number of the oldest will get absolutely nothing.

The coalition has made only £1.5 billion of £4.5bn debt available, and even that will be paid over five years, ensuring that many policyholders will be dead before any payment is made.

Failure to honour these pledges, and reducing age allowance, only serves to illustrate that our MPs cannot be trusted, and tend to attack soft targets, rather than the bankers, rich men avoiding taxes and the like.

Hereford and South Herefordshire MP Jesse Norman told me there was not enough money to make these payments in full. So why were these pledges made? To compound matters, he then voted with the government, and against the proposal to give us proper compensation.

I am pleased to say that some of his Conservative colleagues did at least try to swing things the other way and show some integrity.

No-one in government has suggested we should cut back on the Olympic Games and they are happy to give £40bn to prop up a currency which is not even ours and £325bn to prop up their banker friends.

There is no incentive to save, little incentive to work, and in government there is no leadership, no integrity, and no morality.

I would like to see the salaries of MPs cut to the same extent as my retirement income has been.

Labour, Liberal or Tory, they are all utterly useless and seem to think they can play musical chairs with power as do leading bankers.

Have not politicians said it is appalling that bankers bonuses are still being paid?

Well, considering the mess the country is in because of the ineptitude of the vast majority of all MPs, let’s consider cutting their salaries and perks in half till they perform, too, and cut out their cosy guaranteed pensions.

KIP WAISTELL, Vowchurch, Herefordshire.