§ Mr. HinchliffeTo ask the President of the Board of Trade what approaches have been received from Australian Mutual Providence regarding the proposed release of surplus moneys from the life funds; and what reasons have been given for such a proposal. [3354]
Mr. John M. TaylorThe Department does not comment on its contacts with individual companies.
The Department's view on the balance between policyholders' and shareholders' interests in the long-term funds of life insurance companies was set out by my predecessor my hon. Friend the Member for Brecon and Radnor (Mr. Evans) in his reply to the hon. Member for Shoreham (Mr. Stephen) on 24 February 1995, Official Report, columns 362–63.