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Government u-turn on Equitable – Tories

Shadow Financial Secretary Andrew Tyrie says he has received a letter from Financial Secretary Ruth Kelly saying she would consider a request from the Parliamentary Ombudsman to bring the Government Actuary&#39s Department within her jurisdiction.

Previously Kelly said she remained confident that the Penrose report does not provide evidence proving that any of the relevant regulatory bodies including GAD acted maladministratively in relation to Equitable Life.

Tyrie says: “This is a complete reversal of the Government&#39s previous obdurate position that since there was no maladministration there was no point in considering it. This comes on top of Ruth Kelly&#39s embarrassing climb down over two weeks ago about the Ombudsman&#39s retrospective powers.”

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