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Pensions Bill

I agree with my hon. and learned Friend that the Government have done a great deal for today's pensioners. Of course, it is too late for them to save for their retirement, so my concern is that we are not doing enough to incentivise future pensioners sufficiently to save. The Minister is absolutely right that it is all about priorities. Last year, for example, the Government chose to spend £1 billion on reducing inheritance tax to benefit some of the more affluent members of our society, so is it not time that the Government gave priority to this now? We could find money from other areas—for example, from the huge proportion of money going in tax relief to higher-rate taxpayers on their contributions to pension schemes.