---

Occupational Pensions

That is an important point. My hon. Friend is clearly far better versed in such matters than I am. I think we should have another debate, here or elsewhere, where they can be examined in more detail. Those three factors—the fall in the stock market, increasing life expectancy and firms’ decisions to take contribution holidays—all contributed, in their different ways, to our current difficulties. Those difficulties are not due to the Government’s decision in 1997, as was argued at least initially by Opposition Members today.