Written Evidence to be reported to the House.
Pensions Bill
12:00 pm
John Cridland: We very much welcome the fact that 3 per cent. is enshrined in legislation. My earlier comments gave an impression of how far the small business community has already needed to move to acquiesce with this legislation. It is vital in giving confidence to the small business community that when we talk about 3 per cent. employer contribution, that is precisely what we mean. If you look at the Australian experience, to take an analogy, we have seen their figure start low and then move progressively over a period of years. Clearly, it will be for Parliament in future years to decide whether pension provision is adequate; these things are not set in stone for ever. But it would have been very uncomfortable for small businesses to believe they were being taken on a journey where they did not know the destination.
The particular proposals that we have brought forward on support for small businesses will, in a sense, loom as we move toward 2012, but I will ask my colleague, Neil Carbery, to outline the particular proposals we have.