Clause 10
Pensions Bill
1:15 pm
Andrew Selous (Shadow Minister, Work & Pensions; South West Bedfordshire, Conservative)
The Government amendment and new clauses are certainly sensible. We all agree about where we want to get to, but the Minister is right that getting there in one go might be too difficult for some employers.
In business, one cannot just lift prices significantly in one go. Sometimes these things must be done over time. We all expect employers to put in the money and to cope with this, but we must be sensitive to the competitive business environment in which they are operating, both in the UK and internationally. I am happy that the pleas of the Federation of Small Businesses have been listened to in that regard. These objectives are sensible, and we are happy to have them in the Bill.