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Equitable Life

I thank my right hon. Friend for her statement and apology. We in the House have dealt with the issue of occupational pensions schemes over the past five years, but Equitable Life is at least 10 times bigger than that. Can she tell us how large Sir John Chadwick's office will be and how many people will be in it? Moreover, if she is to run a shadow system in the Treasury, how will that be staffed? Our experience with occupational pensions was that there was incompetence in analysing each individual case, and individual cases will be analysed in the case of Equitable Life, too. Will she report back before the summer recess to tell us where we have got to, so that we better understand the time frame? That is the key issue that most Members are concerned about.