Nick Smith
Main Page: Nick Smith (Labour - Blaenau Gwent)Department Debates - View all Nick Smith's debates with the HM Treasury
Economic Update
Nick Smith Excerpts(1 year, 6 months ago)
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Jeremy Hunt
On the latter point, I will write to the hon. Gentleman. On the former point, I am confident that the advisers I have will be able to speak for the whole United Kingdom.
Nick Smith (Blaenau Gwent) (Lab)
May I press the Chancellor? The defined benefit pensions market has been in turmoil. Schemes have nearly folded, and the Bank of England has spent £20 billion to steady the market. How will he grip that better so that pensioners can have confidence in their schemes?
Jeremy Hunt
I believe that the Bank of England has taken important action and I refer the hon. Gentleman to what the Governor of the Bank of England said today and his confidence that those issues have been largely resolved.