Clause 61

Part of Pensions Bill – in a Public Bill Committee at 12:30 pm on 5th February 2008.

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Photo of Nigel Waterson Nigel Waterson Shadow Minister, Work & Pensions 12:30 pm, 5th February 2008

The amendments may have a familiar ring to them. The Minister can just read out what he said in answers to previous amendments. Amendment No. 36 seeks to take out the authority’s power to borrow money, which is a bigger concern for us than the trustee corporation. I do want not want to rehearse those arguments. We need clarity about where PADA is going to get its money from, whether it will get a bung from the Government if it gets its figures wrong and whether it will be lent money at absurdly low interest rates, or no interest rate at all, and so on.

Amendment No. 37 would remove subsection (7), which has the Secretary Of State getting in on the act yet again. That is the right approach and it is encapsulated neatly in the two amendments, which set out clearly the parameters for the PADA to operate in and let it get on with it.