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Pensions Bill

I hope that the noble Lord will agree that what we have had over the past few days is a series of important debates with some excellent speeches that have raised genuine concerns. I hope also that I have been able to reassure noble Lords on a number of issues. It is fair to say that as a result of these debates we are all largely heading towards the same place. I detect that there is broad agreement that the Government need to take action to address emerging issues. I have made it clear that over the summer we will have discussions with those noble Lords, in good time as the noble Lord requests, who have shown a keen interest in these issues to ensure that we can develop the legislation in a way that strikes the right balance. We will engage with stakeholders, including the CBI and the BBCA, to work closely with us on these very important issues. We need to use the relatively short period of the summer to work on how we can best achieve the policy intent set out in April. The risks are real and there is a need for the Government to act on them. Our amendment sets out our intention to make changes to anti-avoidance legislation to tackle these risks. On that basis, I urge noble Lords to accept the amendment. Having said that, I am grateful to the noble Lord for indicating that he will not resist it, and I understand his comments on how this has come about. On Question, Amendment No. 130EW agreed to. [Amendments Nos. 131 to 133 not moved.]