Equitable Life case to go to Europe

The report, which has been provided to government departments while being withheld from the policyholders and Equitable Life itself, could be published as early as this week, although a Treasury spokesman refused to be drawn on speculation.

Paul Braithwaite, secretary of the Equitable Members' Action Group, said it would take the government to the European Court for failing to implement a European directive on how the mutual was regulated, the FT reported.