Pensions Bill

My Lords, the only consideration that the Government could have taken into account to arrive at their decision last time was a fiscal one. I have certainly not heard any other reason adduced. I went through the arguments that the noble Lord, Lord Hunt of Kings Heath, gave us when we debated the order, and the issue of fiscal circumstances was the new information that the Minister gave us when we debated this in Committee. The point is that employers take on one part of the state GMP liability and, under the scheme, they are remunerated on an actuarial basis, not on a basis that suits the Government from time to time. Of course, employers are making these decisions about whether they are contracted in or contracted out not on a quinquennial basis but on a much longer-term basis. The truth is that the Government are using the rebate as yet another stealth tax, because it is one of those things that they can get away with—extracting more money from employers without appearing to take it overtly. We are not at all convinced by this. It is a very big issue, which we shall need to look at again at some stage. I shall not take it forward this evening, but the Minister should be in no doubt that we are far from convinced that the Government are correct in their approach and that they are acting honourably in relation to those schemes that have been contracted out. I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.