The early day motion was put forward by independent MP for Castlepoint Bob Spink in February, and received support from MPs across all three main parties.
The EDM reads: “That this House notes with concern that the Government has declined to accept the Parliamentary Ombudsman’s recommendation on a tribunal to ensure that fair compensation is paid to Equitable Life members who suffered losses, but is instead using the Chadwick process which fails to command the confidence of the public or of industry.”
It adds: “If the Ombudsman’s recommendation were implemented, any money awarded would be quickly returned to the economy, unlike that used to rescue banks.”
The MPs who signed the motion are Andrew Pelling, Lynne Jones, Jim Dobbin, Peter Bottomley, Jeremy Corbyn, Bob Russell, Gregory Campbell, Martin Caton, Mark Durkan, Mike Hancock, Ann Winterton, Alan Simpson, David Simpson, Lindsay Hoyle, Colin Breed, Dai Davies, John Pugh, Dr William McCrea, Neil Gerrard, John McDonnell, Alan Meale, Sandra Gidley, John Leech, Kelvin Hopkins,
Bill Etherington, Phil Willis, Daniel Rogerson and Brian Jenkins.