Saving Gateway Accounts Bill

I still do not quite understand why the Government have decided to specify in the Bill that the maturity period should be no less than 12 months, given that their intention from the outset has been for it to be two years and the Minister has confirmed that the regulation will provide for it to be two years. It will just add to the confusion if one period is specified in primary legislation and a different period is specified in secondary legislation. As was pointed out in Committee, one reason why the maturity period is important is that it establishes a time during which someone with a saving gateway account will develop a saving culture. It was argued then that a reasonable period of maturity would give people time to develop the practice of putting money aside regularly. During the public evidence sessions that preceded detailed scrutiny of the Bill, Teresa Perchard of Citizens Advice supported a two-year period, and the Economic Secretary agreed when he was leading on the issue. We tabled an amendment to that effect in Committee, but, while accepting the strength of our argument, the then Minister was not very keen for any particular period to be specified in the Bill. It is perplexing that the Government have decided to specify a period, and that it is not the period that they want to be specified in secondary legislation. They seem willing to move some way in recognising the Opposition's view, but not willing enough to go further, have the courage of their convictions and specify in the Bill what they believe to be the right period in the context of secondary legislation. I hope that, when she winds up this relatively short debate, the Minister will explain why she considers it appropriate for two different periods to be specified. As for Lords amendment 8, we are pleased that the Government have accepted the proposals that we made in Committee. We wanted further use of the regulation-making power to be subject to the affirmative rather than the negative procedure in three areas because of the impact on costs. We felt that changes relating to entitlement and maturity payments needed proper parliamentary scrutiny rather than being rushed through without proper debate in the House. I feel that it is important to protect taxpayers in that regard. In the House of Lords, my noble Friend Lady Noakes tabled amendments to extend the affirmative resolution to powers to set the monthly deposit limit, to set the maturity period, and to set the number of accounts that people could hold. They affect the cost of the scheme, and we are pleased that the Government eventually succumbed to pressure in the other place to reflect those changes. The Government are very keen to talk about democratic renewal and the role of the House of Commons, yet it appears that the only amendments they are prepared to accept are those made in the other place. If the Government are genuine in wanting to embrace the views and reflect the opinions of this House, they should accept more amendments tabled in this place when they are tabled, rather than waiting for pressure from the other place to get them to change their mind.