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Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009

My Lords, I declare an interest as chairman of the Conservative and Unionist Party Agents’ Superannuation Fund. I thank the Minister for introducing these regulations and for the detail in which he has explained the complexities of much of what is involved. The consultation process earlier this year on these regulations was interesting. I understand that there were 148 respondents on the DWP website. Many individuals did not respond to the specific proposals but instead expressed their disagreement with the content of the Government’s announcement of December 2007. Does the Minister feel that the Government have done enough to adequately explain the proposal to those affected? Of course, the Minister will be only too aware that the December 2007 announcement was consequent on the Young review, which was set up as a direct consequence of the Government sinking our lifeboat proposals in another place. The scheme at the time was bogged down and potential beneficiaries were denied access to those pensions to which they believed themselves entitled. The Minister will be aware that some died before receiving any money. We note that these regulations bring into effect what we hope will be the last phase in the changes to the management of the scheme, making the board of the Pension Protection Fund the scheme manager. I note the arrangements for the transition for the FAS as described by the Minister. We have repeatedly told the Government that they have failed properly to address the pension time bomb. The danger is of two-tier pension provision with unfunded public sector pensions paid for by taxpayers in the private sector, whose pensions face a continuing underfunding crisis. These regulations are hardly a brick in the wall of "Building Britain’s Future". It is a future that looks increasingly bleak for many until we have a Government who can come clean about public finances and tell the truth about government spending plans. From the moment of Gordon Brown’s first Budget, removing £5 billion a year in advance corporation tax, amounting to some £150 billion in total removed from private sector pension funds, he has mismanaged the pensions issue and let people down. If these regulations make some recompense, they are to be welcomed. Can the Minister give that assurance?