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Pensions Bill

My Lords, frankly, that is one of the more disappointing replies that I have heard. If it convinces anyone, I would be utterly amazed. It may convince some people who have already made up their mind, but I cannot think that it has convinced anyone else. The noble Lord says that he hopes for consensus: there has been substantial consensus, apart from him and one or two speakers making half-speeches more or less in his favour. The noble Lord says that he is committed to reform. It is about the slowest process of reform that I have come upon in the House and it is rather invisible. We have had report after report talking about post-legislative scrutiny. I made my maiden speech on post-legislative scrutiny six years ago. How long will this process of consultation and consideration take? Basically, the noble Lord has said, ““Not this Act: we don’t mind about other Acts, but not this Act””. The issue of pensions is exactly where post-legislative scrutiny should come, because so much money, including so much public money, is at risk. I thank everyone who has taken part in this debate, including my noble friend Lord Norton, for his splendid speech, my noble friend Lord Skelmersdale, the noble Baronesses, Lady Howe and Lady Hollis, and the noble Lord, Lord Oakeshott. I referred to him as that other multi-millionaire, the noble Lord, Lord Ashcroft, but I meant the noble Lord, Lord Oakeshott. I also thank the noble Baroness, Lady Turner, who I think was wrong. The Constitution Committee did not regard four years as too long; it favoured scrutiny three years after commencement. Even if she thinks that, the amendment goes on to say that the Secretary of State ““may arrange subsequent scrutiny””. That gives as much scope as any Government would require.