Clause 166 - Authorised surplus payment

Part of Finance Bill (except clauses 4, 5, 20, 28, 57 to 77, 86, 111 and 282 to 289, and schedules 1, 3, 11, 12, 21 and 37 to 39) – in a Public Bill Committee at 10:45 am on 15th June 2004.

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Photo of Ruth Kelly Ruth Kelly Financial Secretary, HM Treasury 10:45 am, 15th June 2004

Thank you for your guidance, Mr. McWilliam. I hope to keep my remarks to the point.

The hon. Member for Tatton has no need to apologise for not finding something among the papers on his desk. In fact, it is up to me to apologise to the Committee for not yet having been able to produce draft regulations. However, he often accuses us of lack of joined-up government and not working closely enough with the DWP. On this occasion, my Department is working very closely with the DWP so that, when we do publish the draft regulations describing an authorised surplus payment, they will as far as possible mirror the description given in the regulations accompanying the Pensions Bill. I know that he is familiar with the debate on that issue and that he follows such issues closely.

I hope that the issue will be picked up in the debate on the Pensions Bill, as I think that that is the right place for it. I promise that, if it is not debated sufficiently during the Pensions Bill, I will ask my hon. Friend the Minister for Pensions to discuss it with the hon. Gentleman or to write to him setting out the views of the Department for Work and Pensions.

While I apologise that it has not been possible to let members of the Committee see draft regulations under the clause, I reassure them that they will be published and consulted on well in advance of the implementation date, which is, as they should be well aware, 6 April 2006. That is well in time for the introduction of the simplified regime. I commend the clause to the Committee.

Question put and agreed to.

Clause 166 ordered to stand part of the Bill.

Clause 167 ordered to stand part of the Bill.