Pensions Reform

I agree with the hon. Gentleman’s plea for transparency. First, we need information. I also agree with the hon. Gentleman that the initial figures—the £15 billion to which reference has been made—were bogus figures, and designed to be misleading. We need to understand what the costs would be. We have asked the Government to consider seriously the possibility of using unclaimed assets as a way of supporting the group of people concerned. So far I have not seen any response to that suggestion. The Secretary of State, for reasons of high moral principle and a pragmatic need to achieve delivery and acceptance of his White Paper package, must look at the issue again. I believe that I speak on behalf of Members from all parts of the House in saying that if he decided to revise his position and take a more generous approach he would not be criticised in any quarter of the House.