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Saving Gateway Accounts Bill

Does the hon. Gentleman agree that another reason for welcoming such a scheme is that, in a small way, it redresses the balance as regards pensions? I imagine that almost all those who will be eligible have little or no pension provision. The state currently subsidises pensions to the tune of £18 billion a year through tax relief, which is available to an awful lot of people, but not to those who will be incentivised under the Bill. Those people will get a different kind of incentive from the state to save for the future.