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Penrose sets June date for review completion

Lord Penrose has reaffirmed his commitment to completing his review of the Equitable Life debacle by June so that ministers can make a decision as to whether to publish it before Parliament rises in July.

In a letter written to Treasury select committee chairman John McFall, Penrose conceded it was a tight deadline to meet and admitted that the inquiry has taken much longer than he originally estimated.

He said he is keen to return to his duties as a High Court judge as soon as possible.

The letter cites the litigation between Ernst & Young and Equitable as one of the main reasons for delay as both sides have insisted that any evidence they give to Penrose&#39s inquiry first be cleared by their lawyers.

Penrose said: “Clearly, I cannot and would not cut corners that would damage the authority and usefulness of my report but no one is more keen than I am that this inquiry should soon be brought to its conclusion.”

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The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.

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