§ Mr. DarlingTo ask the Chancellor of the Exchequer, pursuant to the oral statement of the Economic Secretary to the Treasury, of 8 July,Official Report, column 367, what progress has been made in paying compensation to those who suffered loss through the purchase of home income plans; and if he will make a statement.
§ Mr. Nelson[holding answer 17 November 1992]: Ten members of the Financial Intermediaries, Managers and Brokers Regulatory Association who were involved in marketing home income plans have been declared in default by the investors compensation scheme. The ICS has made firm offers to some 250 investors in home income plans and in a further 400 cases has confirmed to investors that they are eligible for compensation. In addition, payments have been made to some 800 investors by members of the Life Assurance and Unit Trust Regulatory Organisation.