Commons Will Debate Pounds 3bn Equitable Payouts

Evening Standard - London › March 11, 2004

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Summary

THE Government bowed to massive pressure from the 750,000 Equitable Life policyholders today and announced it will hold a full- scale House of Commons debate over whether investors should be paid compensation that could reach Pounds 3 billion.

The debate on 24 March is to be led by Financial Secretary Ruth Kelly - who told MPs after the release of Lord Penrose's 800-page report on Tuesday that there was no obligation on the Government to compensate investors.

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Extract

Commons Will Debate Pounds 3bn Equitable Payouts

But the current chief executive of Equitable, Charles Thomson, welcomed the debate and went further, demandi...

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