If the hon. Gentleman wants to make a speech, he should do so. I will just say that I do not accept his argument; he has not produced evidence to that effect. I say to him again that the Kay report—produced by the commission set up by the Government and endorsed by the Business Secretary—takes a different view from him. If he disagrees with Kay and with me, that is perfectly legitimate, although I will leave it there for the moment.
To sum up, I say again that in our view and the view of the Pensions Regulator, which was set out in evidence last year, there has to be a scaling up of the UK pensions industry. At the moment, there are far too many schemes—200,000. Our new clause would not reduce that number to a handful by any means, but it would make a start, by giving the powers to trustees and the regulator to promote scale. It is something the Australians have already undertaken, as they move to scale their auto-enrolment system, which we have learned so much from. It would be a sensible addition to the powers that trustees and regulators have, given the widespread consensus in the pensions world that scaling up will have to happen.