Superannuation Bill

I thank the noble Lord for that helpful intervention. There were two questions there. First, our resistance to this is partly on the basis that this is a much more narrowly focused Bill. Secondly, the 1972 Act is fairly complex and deals with a large range of different activities. Although there is of course a general acceptance of consultation, the exact element of commitment to agreement and consultation under different clauses is fairly complex. If we were to go into a wholesale revision of the 1972 Act, we would be doing a very different exercise now. On where we are with the Bill and what is intended, as I am sure noble Lords are aware, this Bill is a fallback position which is felt to be necessary because these negotiations have been under way for two years and have become subject to litigation. The Government are anxious, as were our predecessor Government, that attempts to introduce a satisfactory new compensation scheme should not be delayed further by continuing litigation, some of which—as noble Lords will know—could last for a very long time. The hope and intention is that once Royal Assent to the Bill takes place, the cap will be in force and, if everything is then accepted by those involved, the sunset clause will come into operation on day two and the new scheme will be laid on day three. We would then go through to the new scheme coming into operation, so that compensation can then be provided on the agreed new basis. That is the hope and intention and, as those who were Ministers in the previous Government will recognise, it is the essence of what we are attempting to do to avoid further delay.