Member

For me, what is at the heart of all this—I should make it clear that I am wholly in favour of the idea of using excess surplus, if that does not introduce another set of inverted commas, as it most certainly does—is that I have absolutely no problem with an appropriate amount of a surplus being available to be used. However, as I will argue in our debate on the next group, it should be equitably used between the members of the scheme and the employers. I reiterate the point made by the noble Lord, Lord Davies: the problem with this being a skeleton Bill, with none of the regulations involved, is that it is quite possible that, when the Secretary of State comes to lay regulations under Clause 10, many of the points that we are making may be taken care of, but we do not know that at the moment because we have not seen any draft and we do not know what will actually be in those regulations.