I want to develop my argument before I give way again.
Telford has a particularly good and proactive Labour council, which is driving forward investment projects that will have a very positive effect on our local community. Hundreds of millions of pounds have been invested in the Southwater scheme in the town centre as a result of a partnership between the public and private sectors. That is what a proactive Labour council can do to deliver jobs and investment in the community.
Let me now say a little about what was in the Budget, what was not in it, and what could have been in it. I think that we can give a cautious welcome to what the Government have said about pensions reform, but I also think that the devil will be in the detail. A number of Members have referred to the mis-selling scandals that have taken place over the past few decades. There are significant problems involving fees, and we shall need to look at the regulatory regime more broadly in relation to the pensions market and the pensions sector. I assume that a Bill will be announced in the Queen’s Speech.
There are serious issues to consider in respect of how the pensions sector sits alongside social care, and how we should fund social care in the long term. I am not making a party point. If we are to reform the pensions structure and change the way in which people receive resources and assets, there are serious questions to be asked about the echoes of that when it comes to how we should pay for longer-term care for the people who will need it as our population ages.