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Pensions Bill

I am happy to do that. I was just going to emphasise that the objective is that they should increase by earnings. On the starting point of £5,035 and where the personal allowance currently sits, we are some way away from 2012 and the £5,035 threshold will be operated by earnings. The personal allowance depends, as ever, on what the Chancellor determines; we will know in due course; but historically, under Rooker-Wise, it has been increased by prices, so there will be some convergence. I hope that that has given the noble Baroness a degree of comfort on the valid and important point that she raised. There is more work to do to see which is the best route to achieve tax relief. I understand that it is a probing amendment, but we want to avoid a heavy additional mechanism that HMRC would have to engage in, because that could be costly and difficult. It would almost require year-end reconciliations to deliver on it rather than rely on the current arrangements through the relief-at-source mechanisms or the net pay arrangements. That is an ongoing issue on which we need to do further work.