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Proceeding contribution from Danny Alexander (Liberal Democrat) in the House of Commons on Tuesday, 17 July 2007. It occurred during Debate on bill on Pensions Bill.


Pensions Bill

I am grateful to my hon. Friend for her intervention and pay tribute to her work in campaigning for her many constituents who have been affected by the problems. I share her surprise that, although the Minister appeared to offer a further small concession, albeit with few numbers attached, he was not willing to go the whole hog. I share the view of the hon. Member for Eastbourne (Mr. Waterson) that the Government will eventually be forced to do that. They have not done so yet, and that is gravely disappointing. Although I acknowledge that the Government have made progress in expanding the FAS from its original limited basis to a slightly less limited basis—and, potentially, an even less limited basis—they seem to have been dragged kicking and screaming to that point. Any resultant positive feeling among the victims of the scandal has been dissipated by the Government’s niggardly approach to making progress. There is genuine anger about that. I went to the demonstration in Parliament square today and saw many people wearing T-shirts, which claimed that the Chancellor of the Exchequer ““stole my pension””. That shows the extent to which the issue arouses genuine and justifiable anger. The anger derives from the big difference between the PPF and the FAS. The Minister used the phrase ““core pension””. He has now invented a new phrase—““expected core pension””. Others have drawn attention to the fact that the term ““core pension”” is misleading and appears to have been defined uniquely for the purposes of the debate to make it sound as if more is being offered to the people who are affected. All hon. Members should bear that in mind when they cast their votes.


Secondary information

Type
Proceeding contribution
Reference
463 c213 
Session
2006-07
Chamber / Committee
House of Commons chamber
Subjects
Company liquidations Assets Bank services Annuities Insolvency Financial assistance scheme Personal savings Low incomes Pensions Personal pensions Pension funds Pension Protection Fund State retirement pensions
Legislation
Pensions Bill 2006-07
Link
View this Proceeding contribution on www.publications.parliament.uk