Penrose and Kelly to face Equitable grilling
Lord Penrose, the author of the report into the near-collapse of Equitable Life and Ruth Kelly, financial secretary to the Treasury, will be grilled by MPs next week.
Penrose will face the Commons Treasury Committee at 9.30am on Tuesday 16 March to answer questions about his report, followed by Ruth Kelly at 10.30am.
Lord Penrose released his 800 page report on Monday which placed the majority of the blame on the shoulders of Equitable’s former management.
Speaking in the Commons on Monday, Kelly disappointed Equitable policyholders by saying the government could not ‘underwrite each and every company whose management and boards make fundamental mistakes and questionable decisions’.