David Prosser: Keep up the good work on Equitable redress
Wednesday 26 May 2010
Outlook So far, so good for victims of the Equitable Life scandal. The Government has kept its word, with the Queen's Speech yesterday promising a Bill to give the Treasury powers to pay compensation to those who lost money when the insurer almost collapsed a decade ago. That is going much further than the previous administration – even after a string of legal rulings against it and a damning report from the Parliamentary Ombudsman – which never managed to offer anything more than the most cursory of compensation schemes.
Still, the devil will be in the detail of the proposals. Equitable Life itself estimates that compensating the victims of this failure of regulation could cost as much as £5bn if rightful redress is to be paid to everyone affected. That's quite a commitment for a government so concerned about getting the public finances under control.
Any backsliding on compensation, however, would be all the more disappointing given the hope offered to Equitable victims after their long fight for justice.
- 1 Jeremy Clarkson 'does not see a problem' with his racist language on Top Gear, says BBC
- 2 Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
- 3 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 A third of employers never check job applicants' qualifications, survey finds
- 5 James Foley beheading: Fox news presenter Megyn Kelly annoyed by Ferguson update during broadcast about murdered journalist
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Bin bag full of cats' heads discovered near Manchester's Curry Mile
Disgusting, frustrating, but intriguing: how the country really feels about its politicians
iJobs Money & Business
£25000 - £35000 per annum: Harrington Starr: Junior Quant Analyst - C++, Boost...
£25000 - £35000 per annum: Harrington Starr: Service Desk Analyst- (Desktop Su...
£30000 - £50000 per annum: Harrington Starr: Junior Quant Analyst (Machine Lea...
£45000 - £55000 per annum: Harrington Starr: UNIX Application Support Analyst-...