James Moore: Government still haunted by curse of Equitable Life
James Moore is the Independent's Associate Business Editor and writes the Outlook City comment column from Tuesday to Friday. He also has a keen interest in disability issues and when not attempting to further injure himself playing wheelchair basketball.
Tuesday 23 April 2013
Outlook Equitable Life caused no end of embarrassment to successive Labour governments. Now its doing the same to the Coalition, whose members made a great big song and dance about compensating victims, only to make a mess of doing so when it came to making good on the promise. So says the National Audit Office.
It accepts that government compensation schemes can be complex and difficult to administer. Doubly so, it might have added, when you're dealing with life insurance. But when ministers ploughed ahead they failed to learn any lessons from the past.
And while this meant they got the first payments out on time, it'll be a miracle if the scheme closes in 2014 as planned. The chances are this cursed insurer will still be haunting the next Government when it takes office.
- 1 The difference between a migrant and refugee, in one sentence
- 2 Miley Cyrus calls out hypocrisy of women’s nipples being taboo
- 3 Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
- 4 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 5 iPhone 5c to be discontinued, no iPhone 6c to replace it
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
Labour leadership: Jeremy Corbyn voters most likely to believe 'world is controlled by a secretive elite'
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...