New Clause 7
Pensions Bill
6:30 pm
Nigel Waterson (Shadow Minister, Work & Pensions; Eastbourne, Conservative)
I think my hon. Friend is right, and that is another worry. Hon. Members on both sides of the House who may have no direct expertise or interest in the pensions issue are appalled that the Government have seen fit simply to rubbish and reject the ombudsman’s findings. There have even been dark briefings from unknown sources in the Government about the future of the Parliamentary Commissioner for Administration. That in itself is an outrage.
The Government have misrepresented the real cost in net present value terms of providing financial redress. A more reliable calculation produces figures between £2.9 billion and £3.7 billion. A figure between £13 billion and £17 billion, which coincidentally happens to be bang on the money as far as the Prime Minister’s figure is concerned, represents a cash figure.