Oral Answers to Questions

Oliver Heald Excerpts

Wednesday 2nd February 2011 Commons Chamber

[The Prime Minister]

What is clear is that only one side in this House has a plan at all. The Opposition have absolutely no plan apart from to deny the deficit, to say there was not a problem, and to pretend that somehow they handed on a golden inheritance when in fact we had the biggest budget deficit of advanced countries and an absolute pile of debt to deal with.

[Mr Oliver Heald (North East Hertfordshire) (Con)]

Given the commitment of the coalition Government to reinvigorate occupational pensions, will the Prime Minister welcome the launch yesterday by the National Association of Pension Funds of its workplace retirement income commission, which is designed to produce proposals to improve the adequacy of pensions so that people can live with dignity and with enough money in retirement?

[The Prime Minister]

My hon. Friend makes a very good point. We want to see strong private sector pension provision. The history of that provision over the past 13 years has been depressing, because so much money has been taken out of the pension system, not least by the pensions tax that happened year after year, and which was probably proposed by the two people who now run the Labour party. We want to see stronger private pension provision so that people can have independence and dignity in their old age.