Equitable Life - Public Administration Committee Contents


Letter from Chair of the Committee to Mark Hoban MP, Financial Secretary, HM Treasury, 10 September 2010


  I wrote to you on 30 July following your statement to the House on 22 July and the Ombudsman's letter to colleagues of 26 July in which she concluded that Sir John Chadwick's proposals seemed to her to be an "unsafe and unsound basis on which to proceed".

As I said in my letter, our predecessor Committee took a very close interest in this matter and shared her apprehension about the way in which the previous Government had responded to her recommendations.

  I understand that you have been meeting with the main interested parties in advance of the Second Reading debate of the Equitable Life (Payments) Bill. As you are well aware there is also much concern among colleagues in the House on behalf of those of their constituents who have been adversely affected by the events surrounding Equitable Life.

  It would help Members, in advance of the announcements in the Spending Review next month, and no doubt having heard views from colleagues at Second Reading, if you could come before the Committee and explain the approach you have been considering with regard to fulfilling your commitment to implement the Ombudsman's recommendations and to make fair and transparent payments to Equitable Life policyholders.

  It would be helpful too if, in advance of that session you could set out that approach to us in writing, in particular the differences between the Ombudsman's recommendations and Sir John Chadwick's recommendations, and how you intend to reconcile these differences.

  The Clerk of the Committee will be in touch with your office shortly with a formal invitation for early October.

  I am also writing to Ann Abraham and to Sir John Chadwick with a similar invitation.

previous page contents next page

House of Commons home page Parliament home page House of Lords home page search page enquiries index

© Parliamentary copyright 2010
Prepared 15 October 2010