I am grateful to the Financial Secretary for acknowledging the role that the Labour party and the Law Commission played in proposing the measure. It is a good measure for all the reasons that the Minister set out, which I do not intend to repeat. It will bring considerable benefit to the victims of accidents and those who suffer injuries. It will stimulate competition in the range of financial instruments which are available to them. It will provide for annuities structured specifically to the varying needs that victims have for the rest of their lives following a severe accident or injury. We welcome the new clause and commend it to the House.