Pensions Bill

My Lords, I think the record will show that I said I did not accept that there was a public service obligation and that I did not think that the Government could establish it. Our position is that there should be no subsidy for personal accounts. Whatever language is used to reach that position does not much matter—it is a fairly basic position. We have to leave it at that. As I said, this is not the way I would have liked to finish today’s proceedings but it is important that we make our initial view clear. We have not been persuaded. With that, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. [Amendments Nos. 60 and 61 not moved.] Clause 78 [Principles]: [Amendments Nos. 62 and 63 not moved.] Clause 80 [Finance]: [Amendment No. 64 not moved.]