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Pensions Bill

The amount of money that we are talking about is around £30 million a year in the early years, and I hope that the Minister agrees with those approximate figures. He talks about unfunded commitments, but he has just made an increase in the commitment to the financial assistance scheme from £2.4 billion to £8 billion. That money will be spread over 50 or 60 years, and the money needed for the lifeboat fund will also be spread over 50 to 60 years. The initial cost will be approximately £30 million in the first year, and that will be funded by a Treasury loan of £30 million, which is way below the rounding error in any of the accounts that his Department produces.