Pensions Bill

This has been a good debate. Everyone in the House has sympathy for the people who have been affected. The Government are saying that we will put in taxpayers’ money so that people are paid out with at least 80 per cent. We are setting up a review to examine what more can be done and to consider the Opposition’s suggestions and all the points made by hon. Members in the debate. It would be wrong to give people false hope, but I am afraid that the Tory amendments would create exactly that risk. They have unravelled even during the debate. The hon. Member for Runnymede and Weybridge (Mr. Hammond) said that there would be an increase in public spending, but that directly contradicted the comments of the shadow Chancellor this morning on Sky News, when he said that there would not be an additional burden on public spending. It would be better for the House to wait for the review than to accept the amendments.