(8 years, 4 months ago)
Lords ChamberWell, I am afraid that I do not agree with the noble Lord’s extremely pessimistic view of every aspect of both the Statement and the Government’s approach. We believe that we will be able to develop a deep, special and productive relationship with the EU, which is what we are committed to, and the Prime Minister in the Statement set out the principles underpinning that.
In relation to the noble Lord’s point about passporting, the reason why we are not looking for passporting is that we understand that it is intrinsic to the single market, and it would require us to be subject to a single rule book over which we have no say. We are looking for a collaborative, objective framework that is reciprocal, mutually agreed and permanent, and therefore stable for businesses—and we believe that we can achieve this.
I note the question asked by the noble Lord, Lord Kerr—why should we allow the European Union to pick the cherries for us? Could my noble friend perhaps not suggest that, given that the Prime Minister’s speech has been extremely well received, not only within the Conservative Party but by the media and the wider country, now is the time for all of us, whatever our views on Brexit and whatever our party, to get behind the Prime Minister and, while we are about the nation’s business, to get the best deal for our country? Could my noble friend also confirm that what Donald Tusk said, which is that nothing is agreed until everything is agreed, applies to this process and that, in particular, it applies to our commitment to provide finance to the European Union?
My noble friend is absolutely right that we want to enter into the next phase of negotiations in a positive and productive manner and believe that that is the same for both sides. Of course, our future partnership will need to be tailored to the needs of our economy, and this follows the approach that the EU has taken in the past. The EU’s agreement with South Korea, for instance, contains provisions to recognise each other’s approvals for new car models, whereas the agreement with Canada does not. The EU’s agreement with Canada contains provisions to recognise each other’s testing on machinery, while the agreement with South Korea does not. So it is possible to develop relationships that work for both sides, and that is exactly what we intend to do.
(8 years, 7 months ago)
Lords ChamberMy Lords, in thinking about our future, it might be wise to remind ourselves of the words of another Burns:
“O wad some Power the giftie gie us
To see oursels as ithers see us!
It wad frae mony a blunder free us,
An' foolish notion”
I have said many times before that I love this place. I find that if you are not sure what you think about something, listening to a debate in this place will straighten you out. The debate the other day in the name of the noble Baroness, Lady Hollis, on universal credit was extremely moving as well as being informative, as was the debate moved by the most reverend Primate the Archbishop of Canterbury on education. What do they have in common? They were almost entirely ignored by people outside this House, which is portrayed as a load of people in pyjamas or strange outfits every time we appear in the newspapers. If we are to change the perception—because perception is everything in politics—we have to change ourselves. Along with everyone else, I pay tribute to the fantastic work that the noble Lord, Lord Burns, and his committee have done.
As some noble Lords may recall, in her latter years, Baroness Thatcher used to come to this House. Because she was a little frail, she needed someone to look after her. Her office would ring me up and she would say, “I am coming to the House this afternoon, would you like to look after me?” And I would drop everything and come. One day I said to her, “Margaret, you’ve done your bit for the country. People love to see you, but you don’t need to come here so often”. Whereupon she prodded me in the chest and said, “Michael, when we accepted appointment to this place it became our duty to attend. Now how often are you here when I am not here?”. I have never forgotten that. The size of the House is a problem, but so, also, are people who accept appointment to this place and do not take it seriously. To take it seriously, I am afraid that you have to come quite a lot. It is quite a complicated place to understand, which is why, down at the other end of the corridor, they have not a clue what we are about.
On the Burns report itself, I thought that it was almost impossible for that committee to produce a report that would carry support throughout the Benches, and I pay tribute to the noble Lord, Lord Newby, and to the Liberal Party—this may be a first. I thought that his speech was statesmanlike and the behaviour of his party entirely constructive, even though it is not to its advantage, and we should take a lead from that. By the way, if noble Lords ever want to solve a polynomial simultaneous equation, the noble Lord, Lord Burns, is clearly the man. He can take a whole load of complex variables and put them together in what is a brilliant report. Believe me, this is as good as it gets. As my noble friend Lord Cormack indicated, it is probably our last and only chance to reform ourselves.
Of course, as many noble Lords have already said, none of this will fly unless the Prime Minister actually gives an undertaking. Some have said that we cannot rely on convention, but this whole place has existed on that for 500 years—even where we sit is determined by convention. We are not a rules-based House. Yes, we can depend on convention, but it does require the Prime Minister to give a clear undertaking.
I notice that the Leader of the House spoke at the beginning of this debate and is not speaking at the end, and the Leader of the Opposition is speaking at the end of the debate and will no doubt respond to it. I say to my noble friend the Leader of the House, if I may borrow a phrase from a former Prime Minister, that the hand of history is upon her shoulder. She spoke at the beginning of this debate for the Government. I hope at the end of this debate, she will speak in her role as Leader of the House for the whole House and go to the Prime Minister and explain to her how important it is that she embraces the clear consensus that we are seeing across every corner of the House. Her moment has come, just as happened with a previous Leader, now the Marquess of Salisbury, then Lord Cranborne. The leader of our party in opposition wanted to have an elected House. He informed all of us of this notion by writing an article in the Daily Telegraph. Lord Cranborne, as he then was, defied him and ensured that we ended up with a compromise of the 92 hereditary Peers and the reform that was brought in by a Labour Government. So there is a precedent for leaders—even in opposition—of this House.
I look forward to the speech by my noble friend Lord Strathclyde, who, I understand, made it a condition of his continuing in succession to Lord Cranbourne, who was sacked for his pains—in earlier times his head would have been cut off—that those proposals were taken forward. That is why we are sitting here today with the opportunity to produce a reformed House that will be respected and held in high regard by the public who have sent us here.
(8 years, 7 months ago)
Lords ChamberAs I have said, our objective is for access to each other’s markets to continue on current terms, based on the existing structure of EU rules and regulations. The framework will mean that we will start off under the CJEU and will be under it for part of the period. But the Prime Minister has always said that if we can agree provisions that will be part of the future relationship, such as a dispute resolution mechanism, we will aim to bring them forward at an earlier stage.
My Lords, I understand that quantum mechanics says that it is possible for an electron to be in two places at the same time. Does this explain the behaviour of the Benches opposite? In the other place, an amendment to allow us to remain in the single market and the customs union proposed by Ian Murray, who used to be the shadow spokesman on Scottish affairs, was whipped against by the Labour Party and defeated by 311 votes to 76. What are we to make of the Leader of the Opposition attacking the Government for being divided when they do not know which part of their anatomy differs from the other?
What is most important is that we are now moving into phase 2 of the negotiations, with a united Government looking for the best deal that we will achieve for the UK and the EU.
(8 years, 9 months ago)
Lords ChamberWe will be leaving the EU and its institutions in March 2019 but the fact is, at that point neither the UK nor the EU will be in a position to implement smoothly many of the detailed arrangements that will underpin this relationship. We want a strictly time-limited implementation period based on the existing structure of EU rules and regulations, during which the UK and EU would continue to have access to one another’s markets on current terms and the UK would take part in existing security measures. Because we want our departure to be as smooth as possible, it does not make sense to make people and businesses plan for two sets of changes in the relationship between the UK and the EU, and we should concentrate all our negotiating time on what matters: the long-term future relationship.
My Lords, does my noble friend accept the view that the Prime Minister has taken an entirely consistent and reasonable line on these matters? The Leader of the Opposition talked about a feeling of déjà vu—not something we would get from the Opposition’s position, which varies from week to week. That consistency is clearly important but I ask my noble friend: how much patience does the Prime Minister have? At what point do we say, “Enough is enough” to this intransigence that we are seeing? What has happened to the duty of sincere co-operation which is part of the acquis and the requirement in the treaties? At what point are we actually going to say that these people are deliberately obfuscating and creating difficulties by refusing to enter into the wider negotiations and actually get on with preparing what is in the best interests of our country in the longer term?
I entirely agree with my noble friend about the consistency of the Prime Minister’s position. In fact, we have been putting a lot of information out to the public. We have published seven Brexit position papers, seven future partnership papers and four White Papers, including the two today, and we have set out a clear vision. We want to see progress and we are hoping, as Michel Barnier said, that we will see a “new dynamic” in the negotiations. Inevitably, leaving is a difficult process but we believe, on both sides, that it is in all our interests for the negotiations to succeed and we will continue to work on them in a spirit of good will. Having said that, we also have a duty to plan for the alternative, which we are doing, because that is what any responsible Government would do, but I reiterate that we truly believe that we will come to a deal which will be best for both of us.
(9 years, 1 month ago)
Lords ChamberAs I said, we believe that this is a fair and serious offer. It is one that we want to implement because we want to provide as much certainty as we can to the 3 million EU citizens in the UK and to the 1 million UK nationals in the EU, and that is what we are working towards.
My Lords, does my noble friend not feel that she is in a no-win position? On the one hand, people are saying that she ought to make a unilateral declaration and abandon the rights of British citizens living in Europe; on the other, she is being told that it is wrong to put forward red lines at this stage in the negotiations.
(9 years, 1 month ago)
Lords ChamberThat an humble Address be presented to Her Majesty as follows:
“Most Gracious Sovereign—We, Your Majesty’s most dutiful and loyal subjects, the Lords Spiritual and Temporal in Parliament assembled, beg leave to thank Your Majesty for the most gracious Speech which Your Majesty has addressed to both Houses of Parliament”.
My Lords, may I begin by thanking the Leader of the House and the Chief Whip for inviting me to move this Motion for the Humble Address? It is a singular and unexpected honour, and I confess that I feel like I did the other day when a very attractive young lady offered me her seat on the Tube. However, I imagine that my noble friend Lady Bertin—who will second the Motion—and I are part of the campaign by the Chief Whip to woo the youth vote after the result of the general election.
My first task is to express our thanks to Her Majesty the Queen for honouring our House with her presence to deliver the gracious Speech from the Throne. The whole House will also want to send our best wishes to His Royal Highness Prince Philip, who, sadly, was unable to attend this morning. We are grateful for the outstanding support which he has given to her Majesty, for his service in defence of our country, and for his contribution to countless charities and good causes. The Duke of Edinburgh’s Award scheme is but one example. It is now celebrating 60 years of offering young people the chance to shine, to serve others and to embrace new challenges and activities in more than 140 countries. There are 2.4 million recipients of the award in the United Kingdom alone, and even your Lordships may be among them. We are also grateful to His Royal Highness the Prince of Wales for his presence today. The work of the Prince’s Trust is but one of the many initiatives he has taken to the benefit of our country.
I understand that Her Majesty the Queen has never missed a day at Royal Ascot since her coronation. I hope that there was sufficient time today for her to maintain that tradition and that she will be rewarded for her outstanding devotion to duty by her horse Dartmouth repeating last year’s success and bringing her total up to an impressive 24 Royal Ascot winners. I know little about racing, and bet on horses if I like the name, so my tips for Ascot this week are: Queen’s Trust, Top Beak and Queen of Time.
At church on Sunday, our rector informed us that we were entering ordinary time in the Church’s calendar. Well, it might feel like that on the Bishops’ Benches but it certainly does not feel like that on these Benches, for it is a pretty extraordinary period in politics. Our Prime Minister, it seemed, could walk on water a few months ago and is now subject to vile attacks on all sides. She does not deserve this; nor is it in our country’s interest to trash our Prime Minister at a time of great uncertainty. She is a good, competent, Christian woman, who served for a record period as Home Secretary in a department traditionally seen as an elephants’ graveyard. She may not be a flashy PR campaigner but she has the skills and experience needed to govern and navigate the Scylla and Charybdis that is Brexit. Our national security is threatened by fanatical terrorists and the negotiations began this week to secure our future as an independent country. Alea iacta est—the die has been cast. We are, by law, leaving the European Union in March 2019, and the months ahead should be devoted to getting the best deal for jobs and prosperity for our United Kingdom. Surely we can all agree on that. I believe that we have a duty to unite behind the Prime Minister at this time in the wider interests of our country.
While fighting the election campaign, the Prime Minister had to deal with the atrocities in Manchester and Southwark, and now the appalling attack on Muslim worshippers in Finsbury Park and the unspeakable horror of the fire in Kensington. The unimaginable trauma of the men, women and children trapped in that inferno and the loss to their families has, as Her Majesty pointed out, shocked and saddened the whole country. I recall the same sickening feeling as a new Minister in the Scottish Office in 1988 when 228 oil- workers were trapped on the burning offshore platform Piper Alpha and 167 people were drowned or burned to death. The public inquiry, conducted by the noble and learned Lord, Lord Cullen of Whitekirk, reported in 13 months with 100 expert-led recommendations, which fundamentally changed the safety culture of the whole oil and gas industry—not just in the North Sea but across the world. This example of effective action is what is promised in the gracious Speech following the Grenfell Tower catastrophe. In addition, immediate measures are required to ensure that people living in high-rise buildings and social housing can be assured of their safety and that the survivors and families of the victims of this tragic fire are housed and supported in every way possible. That is what the Prime Minister has ordered should be done.
Now, let us face it: the election campaign was not the Tory party’s finest hour. There were some unexpected highlights, however. Alex Salmond—
I knew I could unite this House. Alex Salmond, in the words of his beloved “Flower of Scotland”, was sent “homeward tae think again”. He left quoting Walter Scott’s poem about my noble friend Lord Dundee’s famous Jacobite relative:
“You have not seen the last of my bonnet and me!”.
The Jacobite cry “Down with the Elector” might have been more appropriate, as the SNP lost 21, or 40%, of its seats. The Scottish Tories, led by the outstanding Ruth Davidson—who, incidentally, was first spotted by my noble friend Lady Fall—won 12 more seats and the other unionist parties a further nine. Fundraising by the SNP for a new independence referendum is reported as having been cancelled. Nicola Sturgeon says that she is considering her position on Indyref2 and our United Kingdom has been saved from further nationalist-inspired instability. The Prime Minister, by facing down their demands for a second referendum, has set back the cause of separatists—to coin a phrase—for a generation.
It looked like a good election for Labour. Indeed, it is behaving as if it won it, despite being 56 seats behind the Tories. And the new, rapturous enthusiasm on the Benches opposite for Jeremy Corbyn, is matched only by their relief that he is not running the country—go on, smile. Oh yes, Labour now certainly has momentum, but sadly for them, Momentum now has Labour. This was not in the plan. As Robert Burns explained to an 18th-century mouse:
“The best laid schemes o’ mice an’ men
Gang aft agley,
An’ lea’e us nought but grief an’ pain,
For promis’d joy!”.
In my party’s case there is little joy, as 33 good colleagues were defeated and we have lost our overall majority, despite a record number of votes. We got 318 seats and I expected 375—375 turns out to be the number of seats in which the Liberals lost their deposits campaigning for a rerun of the referendum.
This brings me to the most important commitment in the gracious Speech for this new, long Parliament: ensuring that our country takes full advantage of the opportunities open to us as we leave the European Union. There is serious work to do, and this House knows its duty and can—and I am sure will—continue to make a constructive contribution to delivering Brexit and building a new partnership with our European friends.
The Chancellor of the Exchequer has rightly emphasised the importance of securing jobs and prosperity as we leave the European Union. Free trade is central to achieving that economic objective. One thing Donald Trump and Jean-Claude Juncker have in common is their hostility to free trade. Yet the case for it is not just economic, it is a moral case. It is estimated that more than a billion lives have been lifted out of extreme poverty by trade since 1981. Encouraging free trade brings prosperity, social stability and ultimately global security.
One in 12 of the world’s population under the age of 28 is living in India, where the EU has no trade deal. Scotch whisky is subject to a massive tariff in a market a fraction of which could keep distilleries going to the crack of doom. Coffee is the second most-traded commodity after oil in the world. The entire continent of Africa exports coffee to the European Union amounting to $2.4 billion, while Germany alone earns far more at $3.8 billion on exports of coffee. How can this be? The EU customs union has no tariff on raw beans, but any added-value product is penalised. This ensures that added value is retained inside the Union and denied to poorer African countries, which results in higher prices in our shops. The EU tariff on decaffeinated coffee from a third country is subject to a duty of 9%. A similar story applies to cocoa and the duty on chocolate is even more egregious.
I welcome the commitment in the gracious Speech on mental health services. This is something the Prime Minister has championed, together with my right honourable friend Dr Liam Fox, who is particularly concerned as Secretary of State for Defence with those service men and women suffering from post-traumatic stress disorder. Norman Lamb too—I hope my mentioning him will not damage his leadership chances—has been a tireless campaigner as a Liberal Minister in the coalition Government and as a Back-Bencher. More recently, Prince William and Prince Harry have spoken out to encourage people to see mental illness like any other health issue. In this context, I urge the Government to focus on one area of great concern: the number one killer of young men in Britain today is suicide, accounting for about one-quarter of all deaths in men aged between 20 and 34. Men are three times more likely to take their own lives than women. We need to reach out to men suffering from depression and find ways to neutralise any sense of stigma or shame which may prevent them from seeking the help they need.
As a Minister of State many years ago responsible for prisons in the Home Office, and later as Secretary of State more than 20 years ago, I was acutely conscious of the number of people who end up behind bars who suffer from bipolar disorders, depression and other conditions. I recall with great sadness visiting Cornton Vale in my constituency in Stirling—which I am delighted to say has been returned to Conservative representation—on Christmas Day when another young woman had taken her life. Mental illness has been the poor relation for far too long and I am sure the whole House will support reform.
I conclude by turning to the substance of the Motion. We are surely blessed that we do not have a presidential system of government in our country, and we have been doubly blessed by the wonderful service and inspiration which Her Majesty the Queen has given to our country and the Commonwealth. Long may she reign over us. I beg to move the Motion for an Humble Address to Her Majesty.
(9 years, 5 months ago)
Lords ChamberMy Lords, the supporters of Brexit have been called many things: ignorant, gullible, naive, uneducated, bigoted—the right reverend Prelate the Bishop of Southwark has added a new one, which is quixotic—and much worse by people who refuse to accept the result of the referendum. I am told that social media are flooded with unending streams of abuse and four-letter words.
I believe that the four-letter word which should concern your Lordships today is duty. It is the duty of this House to consider legislation carefully, to ensure that it meets its objectives and that the drafting is appropriate and, above all—as the Leader pointed out in her excellent opening speech—to respect the primacy of the House of Commons. The Bill before us has been passed unamended and overwhelmingly by the elected House of Commons. As the noble and learned Lord, Lord Hope, pointed out, the judgment of the Supreme Court required the Government to obtain parliamentary authority for the notification of the UK’s withdrawal from the EU under Article 50. That is all this Bill is about—nothing more, nothing less. It will achieve that policy objective and nothing more. It is closely drawn and narrow in scope. It is our duty to pass it quickly and without amendment. The leader of the Opposition—by which I mean the leader in the other place—argued for moving Article 50 immediately on the day after the referendum result, and David Cameron had to be restrained from doing the same thing. Yet now we are having this great stramash about doing what the two leaders of the strongest parties in our country wanted to do on the day after the referendum.
Parliament voted overwhelmingly to hold a referendum on our membership of the European Union. The Government spent £9.3 million of our money on sending a leaflet to every household in the country during the campaign. It said,
“The referendum on Thursday, 23rd June is your chance to decide if we should remain in or leave the European Union … This is your decision. The Government will implement what you decide”.
What part of that do those on the Liberal Benches not understand? It is our duty to ensure that that promise is kept and that the democratic decisions of the people and the House of Commons are upheld.
This brings me to the Liberal Democrats. They are opposed to the composition of this House, arguing that it lacks democratic legitimacy. Despite being reduced to a rump of nine Members in the House of Commons, more than 100 of them have landed here like beached whales noisily swimming against the democratic tide. Their hapless leader, Tim Farron, was almost alone, it seems, in welcoming Tony Blair’s ill-judged and embarrassing rallying cry on Friday for people to revolt against the decision taken by the largest number of voters in our history. How galling for Keir Starmer, who carefully and responsibly led Labour in the Commons, and how much more so for the 346 Members of the House of Commons who opposed leaving the EU but who voted for the Bill because they are democrats. They put the supremacy of the democratic mandate ahead of their personal views.
“Education, education, education”—remember that? It was once Tony Blair’s winning soundbite. Cloned from Shakespeare’s “Othello”, the original seems more appropriate today:
“Reputation, reputation, reputation! Oh, I have lost my reputation! I have lost the immortal part of myself”.
The Liberals care not if this House loses its reputation. They have the brass neck to boast in the press that they will use this place as a platform to reverse the decisions of the elected Chamber and challenge the people’s verdict in the referendum by calling for a rerun. If Brussels thought the terms of Brexit must be approved in a second referendum, then of course they have every incentive to do their worst for our country. Of course, the country the Liberals—I refuse to call them Liberal Democrats—are fighting for is the European Union and if they damage the standing of this House in the process, so much the better. [Interruption.] The Liberals ask why I refuse to call them Liberal Democrats. It is because they do not support the democratic decision taken by the British people and by the other place, but seek to subvert it.
If the Liberal Democrats’ antics are extraordinary, they have pretty strong competition from the Scottish Nationalists. They won 57 out of 59 seats in Scotland on a platform that decisions that affect Scotland should be made in Scotland. Within a year they have disgraced their supporters by singing the European national anthem in the Chamber of the House of Commons. They have refused to seize the opportunity to bring control of fishing and farming policy back to the Scottish Parliament from Brussels. Can you believe it? Not a single piece of legislation has been introduced to the Scottish Parliament since the election nearly a year ago. The only draft Bill, we are told, is one to hold another independence referendum. Like the Liberals, it seems that the parties which are most enthusiastic about holding referendums are the ones which refuse to accept the results. The party with the largest percentage of supporters voting for Brexit in Scotland was the SNP. More than a million Scots voted to leave the European Union, despite all their political leaders campaigning for remain and encouraging their elected Members who supported Brexit to keep silent. Some MSPs, like Ross Thomson, bravely campaigned for Brexit while others, like Alex Neil, the SNP Member, voted secretly to leave. For the First Minister, 1.6 million matter but a million are an inconvenient truth.
This House has an important part to play in helping our nation to make a success of Brexit, through its many Select Committees, as my noble friend Lord Boswell pointed out, and through the debates that lie ahead. There is expertise here and our reputation for cross-party co-operation and an evidence-based approach to policy is undiminished. As the noble Lord, Lord Patel, told us, we should pass the Bill and get on with that task. According to the polls, almost two-thirds of voters want Parliament to do just that. We must not let them down.
(9 years, 5 months ago)
Lords ChamberAs I have said, we believe there is good will on all sides to look at the status of both EU nationals in the UK and UK nationals in member states. We consider this a priority. We believe it is something on which we will have very constructive early discussions with our European partners. We have also said in relation to NATO—the Prime Minister discussed this over lunch—that we want to encourage other European leaders to deliver on their commitment to spend 2% of their GDP on defence. We believe that a number of European countries are actively considering that and will be looking to do it in due course.
My Lords, is it correct, as reported in the newspapers, that the Spanish leader has indicated that he would be very happy for British residents in Spain to enjoy the same rights as they do at present? If that is the case, is it not wrong to criticise the Prime Minister for arguing that we should get on with moving Article 50 so that there is an opportunity for those negotiations to continue? Could not the criticism that the Prime Minister should take a moral lead apply equally to the Spanish Prime Minister or to any of the other European leaders? The problem here is Europe refusing to guarantee the position of British citizens in Europe. My right honourable friend the Prime Minister is surely right to think about them as well as EU citizens living here.
Certainly, the fact that the Prime Minister and the Prime Minister of Spain had constructive discussions is very positive. As I said, it shows that there is good will on all sides to try to resolve this matter as quickly as possible.
(9 years, 7 months ago)
Lords ChamberWill my noble friend confirm that the Government accept the OBR’s figure, which is that each week’s delay in leaving the European Union costs British taxpayers more than £250 million? Therefore, will she ignore those who argue that we should delay beginning the Article 50 process?
On the subject of those European citizens who are currently living in Britain, will she reject the appalling tactics by the President of the Commission who seeks to turn it into some bargaining position? As these families gather for Christmas, would it not be right for the Government to make it clear that they will be able to stay here and continue to work and make a contribution to this country? Surely that makes sense. If the Government believe that it is a bargaining position, how on earth will they be able to exercise the rejection of these people from our country, which would carry no support in any corner of this House?
I hope I have made it clear that the Prime Minister has been very clear that her objective remains wanting to give reassurance. We have made our intentions clear and we need other European leaders to match our commitment. My noble friend is absolutely right that we need to provide certainty where we can, which is why the Prime Minister has once again reiterated to our European partners that we will be triggering Article 50 before the end of March.
(9 years, 7 months ago)
Lords ChamberThe Government have consistently reduced the cost of tax relief on pensions by introducing the lifetime allowance, which has now been reduced to £1 million, and the annual allowance, which has been reduced to £40,000. This year we made further savings of up to £4 billion over the lifetime of this Parliament by saying that for those who earn over £150,000 the £40,000 relief is tapered. So we have made substantial savings in the cost of pensions tax relief.
My Lords, does my noble friend not agree that the whole point of pensions investment is that it should be stable and not subject to sudden changes? Have the Government not interfered enough with the pensions regime? Do we not need a period of stability?