Pensions Reform

I will ask the Minister about precisely that issue in a moment. The Opposition’s reaction to the money that the Government have put in is slightly disingenuous, as they are not prepared to commit any public money themselves. I recognise why it is difficult for the Government to come up with any more public money, but I cannot understand why the unclaimed assets cannot be used. There is strong support among Labour Back Benchers for the use of that mechanism. My early-day motion 1868, which deals with this issue, attracted substantial support. Some 113 Members—mainly Labour Members—have signed it. The Chancellor has managed to prise money out of the private sector for other purposes; why can he not do so for this purpose? I ask the Minister to pursue that issue. So far, the Government have responded with what I call incremental benevolence. There is nothing wrong with benevolence—I am all for it—but it is no substitute for justice. Those of my constituents and others throughout the country who have lost their pensions are seeking justice. They feel that promises have been broken, and that trust has been broken. Two things are clear. First, as many Members have said, this issue will not go away; indeed, two court cases are outstanding. As I have made clear, I am very proud of what the Government have done so far, but I feel that they can and should do more. Secondly, if this issue is not wholly resolved, confidence in saving will not be restored as quickly as it should be. One Opposition Member pointed out that according to Scottish Widows people are not saving, and in my view, this issue has had an influence in that regard. It appears that ongoing publicity about the problems has put many people off saving. My hon. Friends will not be surprised to have discovered that, as usual, I have not minced my words on this issue. I have stood four-square behind my constituents since day one, and I will continue to do so. I congratulate the Government on what they have done, but I ask them to do more.