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Pensions Bill

What I have said to the hon. Gentleman—and I do not imagine for a moment that he would do anything different—is that we do not intend to attack the pension credit threshold, which would be one of the two ways of closing the means-testing gap in the short term. It would be a case of either reducing the level of means-tested benefits or increasing the level of basic state pension entitlement in a way that would be fiscally unaffordable. But the fact that there is no short-term ready way of dealing with the position does not mean we should not aim, over 20, 30 or 40 years—a time scale which is relevant to incentivising young savers—to send a clear message that we aspire collectively to reduce the level of means-testing in the system over time.