---

Equitable Life (Payments) Bill

I accept my hon. Friend's premise that the amount is considerably higher than the previous Government proposed. I also accept that we are in a desperate situation in which we are paying £120 million a day to service a debt. That is outrageous and clearly we must focus on that. However, a way around the challenge is the one that I have presented to the Economic Secretary to the Treasury, which is to urge the Treasury to revisit the matter in five years' time for the second tranche of the £500 million. By then, the economy will be transformed and we will be in a stronger position. Does my hon. Friend not agree that while the £1.5 billion seems a very generous sum at the minute, a little flexibility from the Treasury means that the further £500 million could be revisited in five years' time?