Good morning to you, Mr Wilson, and to the rest of the Committee.

As we have just heard, the amendment concerns the date from which the Bill will come into force as an Act. The hon. Gentleman has outlined his reasons for wanting a delay. The amendment would provide that the Act will not come into force until the day after the establishment of the independent pensions and savings commission he has just described.

Over the course of our deliberations in Committee, we have discussed why the schemes in the Bill are really positive steps for savers, so I will not go through those arguments at length again. The fundamental point is that we want both the lifetime individual savings account and Help to Save to become available to people as soon as possible. A delay would not be fair to the people who could have benefited from them. For example, delaying the lifetime ISA for a year would mean that people would miss out on the chance to save up to £4,000 into such an ISA and get a bonus of up to £1,000.