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Equitable Life (Payments) Bill

This may be a naive question, but box 2.7 in the spending review says:"““The Government expects the total amount of funding for the scheme to be in the region of £1.5 billion.””" That is the envelope that we have been debating, and that figure matters quite a lot, especially for those other policyholders. However, the same box says that"““£1 billion will be allocated to the Payments Scheme in this Spending Review period, which will cover…the initial costs of the first three years of WPA””—" with-profits annuitants—"““regular payments, and all payments to other policyholders.””" Can the Minister explain the difference between the £1 billion and the £1.5 billion, and say how the timings will be affected? Presumably the other £500 million will arrive after the spending review period, but I am a bit confused on that point.