Conservatives pledge to scrap Eq Life means testing

Shadow Treasury Secretary, Mark Hoban, has pledge to compensate all policyholders and the dependent of those who have died. The Conservatives say the Treasury has already earmarked £1bn for compensation, according to The Scotsman. A controversial Government compensation scheme will mean only those who have been ‘disproportionately affected' by the collapse of Equitable Life will receive compensation. Hoban says the delays in providing compensation are in sharp contrast with rapid compensation paid out to victims of the Icelandic banking collapse.