Clause 46 - Energy Act 2004 and Health Protection Agency Act 2004
Finance Bill
2:15 pm
Mark Francois (Shadow Minister, Treasury; Rayleigh, Conservative)
I fear that the hon. Gentleman's copyright may be in danger.
The explanatory notes acknowledge the possibility that there could be implications and seek to provide some reassurance in the following terms:
''This also affects in principle pension schemes run by the Authority but in practice there is no effect because the schemes are still subject to the normal rules for pension schemes.''
That may be so, but given the general concern surrounding what has happened to pensions in the United Kingdom over the past few years, amendment No. 91 would provide extra security to UKAEA pensioners and employees by placing in the Bill the requirement that their pension entitlement should not suffer as a result of the changes, rather than tucking it away as a comment in the explanatory notes, which are not formally part of the Bill. We are seeking to upgrade the protection from the explanatory notes to the Bill.
I have here the latest edition of the UKAEA glossy newsletter, ''UKAEA Today'', which I believe has been circulated to a number of Members of Parliament including me. It talks at some length about the future development of the company but unfortunately says little about its staff and—having read it carefully—nothing about their pensions.
We would like the Government to agree to the amendment to provide some extra security, but if they are not minded to do so at this stage—and they may not be—perhaps the Minister would provide some firm assurances that will be of comfort to the employees and pensioners of UKAEA.