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The Economy and Welfare Reform

I agree that there is a problem with poor female pensioners who have not built up national insurance contributions over their lifetime. In the general election the Conservative party put forward policies to help remedy that. However, I suggest that this is something that Adair Turner’s commission particularly needs to look at. I point out that the commission is especially critical of the pension credit because it acts as a disincentive to saving, and one cannot solve the pensions crisis if there is a disincentive to saving.