Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what criteria he used to calculate the amount of compensation issued to Equitable Life policyholders through the Equitable Life Payment Scheme.

In her report the Parliamentary Ombudsman was clear that the state of the public purse should be taken into account when deciding the level of funding available. The Government decided that £1.5billion was an appropriate level of funding for the Equitable Life Payment Scheme.