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Pensions Bill

May I make some progress and turn to new clause 25 and the Minister’s welcome announcement that he is willing to yield on the issue of solvent schemes? There appears to be a technical issue concerning the extent of his commitment. Yesterday, the Chancellor displayed alarming unawareness of the problem of solvent schemes, and told the House that the problem for those pensioners was that their employers had gone bust. Hon. Members who take an interest in these things know that in some cases that is not so. The problem is that the schemes are underfunded, not that the employer has gone bust. That is an issue that the hon. Member for Cannock Chase (Dr. Wright) must address in his contribution. He must decide whether his new clause 25 needs to be pressed further, notwithstanding the commitment that the Minister made today. I came to the Chamber ready to commit the Opposition to supporting the hon. Gentleman and his new clause, which extends the scheme to solvent employers. [Interruption.] The Minister is asking where the money will come from. It will now come from the Government’s pot, because he has made a commitment. The hon. Member for Cannock Chase will make a judgment as to whether to proceed with new clause 25. He has taken a great deal of care and consulted experts on the issue, and I certainly await what he says with great interest.