Commons rejects Lifeboat Fund

MPs voted 303 to 253 against the cross-party amendment made by the House of Lords, which the Conservative Party supported. The proposal to create the Lifeboat Fund, and use unclaimed assets to fund it, sparked a row between the ABI, who opposed the move, and an independent policy adviser, Dr Ros Altmann. The Department for Work and Pensions has announced that those in the FAS scheme will receive additional aid from the Government. The DWP says that the government will match additional funds identified in the Assets Review, led by Government actuary Andrew Young. An interim report says th...