Equitable Life compensation expected to total £1.5bn

The government is to pay customers of Equitable Life compensation totalling £1.5bn, the BBC understands.

That would be three times more than that recommended in an official report.

An official announcement to 1.5 million savers who lost money in the firm's near collapse in 1999 is expected as part of the Spending Review next week.

Equitable Life would not comment, while members' groups said they wanted to see the small print of the deal - and promised to fight on.

Joe Lynam reports.

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