Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2006

Of course, my Lords, but that would be the same for anyone receiving occupational pension schemes. Frankly, I do not believe that is a material point. I come now to the ombudsman’s report, which the noble Lord mentioned. Again, we have debated this on a number of occasions. I do not think it would be fair or appropriate for taxpayers to bear the full cost of implementing the report, which we estimate at about £15 billion in cash terms. It seems to me that both the ombudsman and the Select Committee recognised in the report that it was not the Government who caused the schemes to fail. I remind the noble Lord that, of the leaflets that were part of the issue at the heart of the ombudsman’s decisions, one of them was issued by his own Government in, I believe, 1995. The noble Lord, Lord Skelmersdale, cannot resist a discussion about advanced corporation tax. Once again he raises the figure of £5 billion. I remind him that the Government do not recognise that figure; I also remind him that the Pensions Policy Institute thought the figure was around £3.5 billion. Equally, one would have to say that, in relation to the impact on pension schemes, there were many other factorsas well, including the changes in the actuarial calculations on the years that people live. He will also recall the fall in the stock market during that period that was greater than these figures—even if we accept the £5 billion, which I do not. I also remind the noble Lord that it is this Government who, through the PPF and the FAS, have provided and are providing much greater security for members of pension schemes. In conclusion, of course I recognise that the extension to the scheme that these regulations bring will be very important to many people. We are very concerned to ensure that the scheme is administered as effectively and efficiently as possible. We depend on the co-operation of trustees. I believe that we are now working effectively together with the trustees but we will continue to say that where information is not being provided, it is very important that trustees and administrators provide it to make the scheme work as effectively and quickly as possible.