Pensions Bill

I thank the Minister for that reply. I was disappointed that he felt unable to share even the smallest bit of analysis from the stuff that is due imminently from the Department for Work and Pensions. Doubtless we will have to wait with bated breath to see what emerges from that and to see whether we wish to discuss any aspects of it on Report. My noble friend Lord Blackwell raised important issues about the boundaries between unfair and fair competition. I do not think that the Minister responded to those points. They are strongly held concerns among certain parts of the financial services industry, but we will need to read carefully in Hansard what he said before deciding whether that has put an end to that issue as regards this Bill. However, I accept that we will return to all these issues in force on the next Bill. We will also return to whether the initial costs incurred by the authority need to be rolled over into the costings for the board when it is finally set up. I am pleased to see that at least the Minister has not ruled that out and I look forward to debating that with him in due course. For today, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. [Amendment No. 117 not moved.]