House of Commons (Members' Salaries)

Part of the debate – in the House of Commons at 6:59 pm on 25 November 1992.

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Photo of Margaret Beckett Margaret Beckett Shadow Leader of the House of Commons, Deputy Leader of the Labour Party 6:59, 25 November 1992

Now that I am able to follow more clearly the right hon. Gentleman's argument, I shall put it in words of one syllable. The impact of freezing salaries, possibly over a sustained period, will be so serious that, although in normal circumstances it is always true that it is better for someone to place a defined sum of money in a defined benefit scheme, in this case it might be better to use additional voluntary contributions. That is true in this case because the net loss suffered from freezing is greater than the net gain from additional voluntary contributions.