Duncan Hames
Main Page: Duncan Hames (Liberal Democrat - Chippenham)Department Debates - View all Duncan Hames's debates with the HM Treasury
(11 years, 12 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Danny Alexander
The Government are increasing taxes on the wealthiest in society and using that money for a number of things, including to put in place a new free child care entitlement for disadvantaged two-year-olds; to extend the child care entitlement of three and four-year-olds to 15 hours a week; and to reduce the income tax personal allowance, which benefits families in work. The hon. Lady should welcome rather than criticise those policies.
Duncan Hames (Chippenham) (LD)
Some pensioners with capped draw-down and self-invested pension plans have seen their retirement income halve as a result of decisions by the Government Actuary’s Department. How would the Minister suggest those pensioners cope in retirement with such a sharp fall in access to what is, after all, their own money?
The Economic Secretary to the Treasury (Sajid Javid)
My hon. Friend is right to point out that pensioners are facing pressure because of low interest rates and longevity. The Government Actuary’s Department makes recommendations to the Government and we must take them seriously—we keep the matter constantly under review.