Member

It comes down to the very simple question: who should take the risk that arises from the Government mandating investment in particular asset types, or indeed in particular assets? There is nothing in the Bill that prevents qualifying assets being defined extremely narrowly. Who bears the cost if those assets perform badly? At the moment, the Bill is completely silent on that. The best that we get in the Bill is that the Secretary of State must publish a report on how the financial interests of members will be affected, but that is only before the relevant regulations are made. There is no requirement to look at the actual impacts on members and nothing to say what happens if those impacts turn out to be negative.