A long-awaited report into what went wrong at troubled mutual Equitable Life will be published in full as soon as possible, the Treasury has promised.

The Penrose Report, which was commissioned by the Treasury in August 2001, was handed over on December 23.

Policyholders are awaiting the outcome of the review, which was carried out by Lord Penrose and which looked at events at the society from the the 1950s, to find out if they can sue the Government for compensation.