Part of the debate – in the House of Lords at 6:45 pm on 27 October 2008.
My Lords, this has been a shorter debate, and I seek not to reiterate all the points that I made when discussing the proposed temporary suspension of the age 75 "annuitisation requirement".
I say to the noble Baroness, Lady Greengross, that of course the Government keep this under review, and we will continue to do so, although we are not in a position tonight to accept either of the amendments in this group. It is interesting that there is a difference of view. The noble Lords, Lord Fowler and Lord Skelmersdale, said that they did not want any age by which you have to annuitise. I am not sure whether that translated to them not wanting any age at all at which some form of crystallisation of income stream must take place. If that is their proposition, they have not said anything about the inheritance tax consequences.