Brazen double standards. That was the verdict last week of many Woodford Equity Income fund investors who contacted me in response to the Government s announcement of the compensation it will pay savers who lost money as a result of the failure of mini-bond provider London Capital & Finance.
On the one hand, they expressed delight that the Government will pay these bondholders £120million in compensation as a result of the City regulator s abject failure to protect their financial interests. The compensation will result in some 10,000 investors receiving 80 per cent of the value of their original investment, capped at £68,000.
On the other, they are seething that so far there appears no inclination to compensate them for the losses they have suffered as a result of the failure of the same regulator (the utterly useless Financial Conduct Authority) to ensure Woodford Equity Income (and its manager Neil Woodford) was abiding by the rules before it was suspended in June 2019. As
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Joe Anderson s son David confirms arrest as he hits out at Caller report
Former Mayor s son confirms he was also arrested as part of Operation Aloft and has submitted a judicial review
Updated
The report criticised a decision to award a key contract on the Churchill Way Flyovers demolition to David Anderson s company
David Anderson, the son of former Liverpool Mayor Joe Anderson, has formally complained to Local Government Secretary Robert Jenrick over what he says are politically motivated smears about him in Max Caller s inspection report into Liverpool City Council. Mr Anderson and his company Safety Support Consultants were referred to in one section of Mr Caller s report, with criticism of a decision to give the company a key health and safety contract on the project to dismantle the Churchill Way Flyovers.
State pension scandal: Staggering £3bn DWP bill for shortchanging women now revealed
Elderly women will be potentially handed back £3billion in underpaid state pensions in a scandal discovered by former Pensions Minister Steve Webb and This is Money.
Here, he gives his take on last week s Government announcement, and explains where women who could have missed out on thousands of pounds stand now.
When Brian and Audrey Watson contacted This is Money a year ago to query the low rate of state pension she was receiving, little did I realise where it would lead.
A year later, the Government has just accepted that around 200,000 married women, widows and the over 80s are on the wrong rate of pension and says that it expects to spend around £3billion putting it right.
Audrey and Brian Watson: Couple from Staffordshire sent a question to Steve Webb a year ago, sparking our investigation - read their story here
Elderly women could receive £3billion in state pension arrears after being shortchanged for decades, the Government admitted this week.
The scandal was uncovered by This is Money and former Pensions Minister Steve Webb, after we launched an investigation into a reader question to his weekly column a year ago.
The huge bill results from a failure to increase some women s payments when their husbands reached state pension age or died, or when they themselves reached the age of 80.
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