Finance Bill

My hon. Friend mentioned Government leaflets and advice. Does he accept that any Government must depend on the honesty and integrity of the managers of pension funds, and that there has been dishonesty in the case of a considerable number of pension failures? My hon. Friend referred to FRS 17, which opened a Pandora’s box, but any Government must give advice on the basis that people will be honest and obey the law. Surely the system has collapsed not because of bad advice, but simply because some employers have been blatantly dishonest in the management of pension funds.