Member

The Bill removes a helpful incentive for long-term financial planning and will place a costly additional burden on small businesses at a time when they can least afford it. I think it is an unwise, short-term move with no regard for the longer-term consequences that will cost the Treasury more than the Bill brings in, so I urge the Government to reconsider. For this reason, I will be pushing to a vote this afternoon the Liberal Democrats’ new clause 5, which would require the Government to calculate and publish the changes to lifetime pension values before and after the changes made in this Bill have taken effect, and we will be voting against the Bill.