The Treasury has spent more than £2.6m administering the Equitable Life payments scheme (ELPS) in the three months to November, government figures have shown.
Prime Minister David Cameron has appointed former banker Sajid Javid as financial secretary to the Treasury following the latest reshuffle of the Cabinet.
Fitch Ratings has said any potential break-up of Royal Bank of Scotland (RBS) is 'unlikely' as the costs and risks would outweigh the benefits.
The Chancellor will not sell any of the government's stake in Lloyds Banking Group until September, dashing recent hopes in the City of a sell-off as early as this week, according to reports.
The government has announced plans to put UK asset managers at the forefront of its mission to kickstart the economy, saying "opportunities abound" for the sector.
A group of MPs has criticised government attempts to stimulate the economy, including quantitative easing, for being "expensive experiments".
Business secretary Vince Cable has said the UK could see a triple-dip recession, and event a Japan-style 'lost decade' of zero growth.
The Treasury will launch a consultation tomorrow on the limits imposed on the amount of annual income drawdown investors can take, an expert claims.