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Occupational Pensions

Although I do not accept that there is any connection between what the Chancellor did and the so-called drop in the equity market, if the thesis of the right hon. Member for Wokingham (Mr. Redwood) was true and if that situation is continuing—because there has been no real change in the position over the past six years—the stock market would not have recovered to more than it was when it crashed. That would not have happened if the right hon. Gentleman’s thesis was true.