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Equitable Life

The hon. and learned Gentleman will be aware that we have received interim reports from Sir John during this process. [Interruption.] I believe that he just said that we have already seen the draft final report—I can assure him that that is absolutely not the case. The hon. and learned Member for Harborough (Mr. Garnier) and the hon. Members for Shrewsbury and Atcham and for Banbury (Tony Baldry) expressed their cynicism about Sir John's reporting in May. This is Sir John's timetable. Sir John does not work to a parliamentary or a political timetable, and he is carrying out the work as quickly as he is able. Clearly, it would be irresponsible to rush to implement a scheme before the facts are established. Many Members, including the hon. Member for Cheltenham, raised the question of Sir John's independence. Sir John will come to his own views independently of Government. We have, of course, offered our own views and comments to the process, and they will be published along with all the responses, but they are representations, not directions. We have been very clear that we will take full account of Sir John's advice.