Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the findings of the review by Jonathan Laidlaw QC on Lloyd's Banking Group's compensation scheme for the victims of the HBOS Reading fraud, published by SME Alliance on 18 December 2018.

Compensation offers have been made to all customers in scope of the compensation scheme for victims of the HBOS Reading fraud, with 90% of customers accepting their offer. However, as Jonathan Laidlaw’s review highlights - the scheme has not commanded public confidence. That is why I welcomed Lloyds’ commitment – in agreement with the FCA – to commission a post-completion review to quality-assure the methodology and process of the Griggs compensation scheme for victims of the HBOS Reading fraud. I am pleased to hear that Lloyds Banking Group have recently announced that this process will be led by former High Court judge, Sir Ross Cranston.