Equitable Life claims could hit £3bn

THE Government is braced for multi-billion-pound claims from stricken Equitable Life policyholders if next week's report into its near collapse finds inept regulators to blame.

The report is due to be published on Monday. It is expected to criticise authorities such as the Government's actuary's department for failing to prevent one of the worst debacles in Britain's financial services industry.

Policyholders could seek up to £3bn in compensation.