Member

The Budget last week confirmed the transfer of the full £2.5 billion-worth of reserves.[Official Report, 12 January 2026; Vol. 778, c. 6WC.](Correction) Implementation is a matter for trustees, but we understand that they have put processes in place so that the first payments will be made on 23 December—just a matter of weeks. The change is the result of the powerful advocacy of so many of my hon. Friends on the Labour Benches, not least my hon. Friend the Member for Blaenau Gwent and Rhymney (Nick Smith).