We need your support to keep TheyWorkForYou running and make sure people across the UK can continue to hold their elected representatives to account.

Donate to our crowdfunder

Orders of the Day — Finance Bill

Part of the debate – in the House of Commons at 2:20 pm on 20th April 2004.

Alert me about debates like this

Photo of Andrew Mitchell Andrew Mitchell Shadow Minister (Treasury) 2:20 pm, 20th April 2004

I agree with the Chief Secretary about the merits of simplification, which is one good aspect among the litany of bad aspects of the Government's pension changes. If he is trying to encourage savings, however, will he explain why he is reducing the amount that people can save through individual savings accounts and making other disadvantageous changes for ISA holders? Next year, why does he not increase the figure from £7,000 to, for example, £10,000 or even £15,000 per year, instead of reducing the capital figure allowed to £5,000?