Honor Blackman supporting the Equitable Members Action Group
Photo: PA
Equitable Life victims are being asked to make further representations to the
Government after a report suggesting that they will get just £266 each.
Mark Hoban, a Treasury minister, said Equitable’s policyholders should start
to receive compensation in the autumn of next year. But he indicated that
the amount would be far lower than expected because of the state of the
country’s finances.
He was speaking after the publication of the report by Sir John Chadwick,
which suggested that the total amount of compensation for the 1.5m
policyholders could be between £400m and £500m – or £266 per policyholder. Policyholders had hoped for a £4.7bn collective payout, and had expected at least £1bn.
Mr Hoban said the amount they would get would be constrained by Britain’s
economic woes, saying that total …
Read the original article at Telegraph
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