It is not for me to comment on that one, I think.
As I have said, any contribution cannot exceed 0.2% of annual salary. Clause 5 also empowers the trustees to vary the amount deducted from Members’ salaries by direction.
However, the news is really quite good in so far as it is proposed that the Government’s contribution from the Treasury should now be removed. It is limited to £215,000, as I said, but there is already £7 million in investments, which is more than enough to cover the current payment of the £137,000 that I talked about. It is therefore proposed that just over £1 million be repaid to Her Majesty’s Treasury.
It is also proposed that there be no contribution from Members. I should make it quite clear that there is a provision within the Bill that it can be reintroduced if trustees so recommend, at no more than 0.2% of salary. I hope that, with that explanation, my colleagues will be able to reflect on the importance of the Bill to all those who would be potential beneficiaries. I beg to move.
10.32 am