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Equitable Life

After the ombudsman published the report with the damning title, "Equitable Life: a decade of regulatory failure", the Government's response has been characterised by foot dragging. They missed the deadline to respond by the end of 2008, as initially promised. Sir John Chadwick has been non-communicative with Members and others, but meanwhile policyholders are dying every day while the Government are still deciding to pick and choose the ombudsman's recommendations. The Minister may think that today represents some progress, but does he not share my concern that his statement was littered with equivocation, and talked of "a further document", an "interim report", a statement of his approach, and a list of "the specific issues". Will policyholders not be worried that that is further delay and prevarication? If the Government thought that the situation was as good as the Minister claimed, would he not, instead of sneaking it out in written form, have come to the House of his own volition and made a statement this afternoon?