Pensions Reform

I warmly welcome the totality of the package that my right hon. Friend has announced, but will he give some consideration to the continued existence of the higher-rate tax relief? By and large, it tends to go to people who already save for their pensions anyway. Instead, could he not transfer some of that money to provide even more assistance and encouragement for people to adopt the new personal accounts? The people who will opt out are probably those at the bottom end of the earnings scale, and we could give them greater assistance if the higher-rate tax relief were abolished.