Quality Workplace Pensions

Lindsay Hoyle Excerpts

Thursday 27th March 2014 Commons Chamber

[Steve Webb]

The hon. Gentleman raises an important point, which is that these changes have a number of knock-on effects within our Department and the Department of Health. Of course, we will make sure that the spirit of the Chancellor’s announcement is carefully reflected in the way Departments carry on. These flexibilities do not come in for another year, so we still have time to work through detail of the sort that he properly raises.

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

Last, but certainly not least, the voice of Middlesbrough South and East Cleveland—Tom Blenkinsop.

[Tom Blenkinsop (Middlesbrough South and East Cleveland) (Lab)]

Thank you, Mr Deputy Speaker.

I find the Minister’s statement fascinating given that he said only recently that putting a cap on pensions was like trying to put

“a price cap on a tin of baked beans”.

I wonder whether he read this in yesterday’s Financial Times:

“Labour led the way with criticism of the annuities market and high opaque fees on pensions, long before the coalition took action.”

Would he care to comment on that very good article?