Debt and Pensions Advice

Part of the debate – in the House of Lords at 3:04 pm on 15 October 2007.

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Photo of Lord Skelmersdale Lord Skelmersdale Shadow Minister, Work & Pensions 3:04, 15 October 2007

My Lords, the Minister says that quite a lot of advice is available in these circumstances, and of course I accept that. However, is not means testing, rather than the lack of access to financial and debt advice, the real deterrent to those on low incomes saving more, which of course is what we would all like to see? Why will not Her Majesty's Government give thorough consideration to lifetime savings accounts rather than dismissing them out of hand, as they did during our consideration of the Pensions Bill earlier this year?