Pensions Bill

The background to this matter is well known and well rehearsed. We are dealing with a finite group—future pension scheme failures will not increase its size—comprising 125,000 people, some of whom are terminally ill and some of whom have had to come out of retirement and start work again. There are some heartbreaking stories, and I am sure that hon. Members on both sides of the House will relate some of those stories during the debate. Fairness demands that the people in that group are treated similarly to those whose schemes failed after April 2005, whether their employers were solvent or not. Fairness is not alone: the ombudsman, the Public Administration Committee, the European Court of Justice and the High Court have all expressed the same sentiment. It is fair to say that a consensus has emerged both within the House and among the pressure groups outside that a settlement around PPF levels of benefits, although it is less than some people hoped for, would be a fair and reasonable outcome. However, the Government are still appealing the ombudsman report and resisting the finding of maladministration. I repeat what I have said several times before: there will not be a legal solution to the problem; there will have to be a political solution. There is a huge amount of good will on both sides of the House when it comes to trying to solve the problem. As the Minister said, the Government have promised a review to consider the use of scheme assets, and we welcome that, but the review must not stand in the way of the search for an immediate solution. Our proposal will provide that immediate solution, while accommodating the review that the Government have announced, and the additional assets that may come out of that review. I pay tribute to the Select Committee on Public Administration and the hon. Member for Cannock Chase (Dr. Wright) for their work, which has been instrumental in trying to craft a consensual solution that would command support and respect in all parts of the House. There are a lot of people watching us today; Parliament is on trial, and people want and expect us to work together to find a compromise solution that will deliver a fair, sustainable and effective outcome, and to set aside party political considerations.