amendment of the law

Penny Mordaunt Excerpts

Tuesday 25th March 2014 Commons Chamber

[Penny Mordaunt (Portsmouth North) (Con)]

I shall be brief. I want to welcome the pension reforms outlined in the Budget, especially as I am the co-chair of the all-party group on older people and ageing.

As part of my campaign to secure a Minister for older people, I have often spoken in the House about the freedoms that we wish to see for older people. Policies and financial products are often skewed towards a “Werther’s Original” image of older people that does not reflect the diverse reality. I remember going to the physiotherapy department at my local hospital and seeing an elderly gentleman exercising. He was recovering from a major operation on his knee and hips. I asked him his name and how old he was. He was 84, and I asked him how his recovery was going. He described the incredible number of breaks he had had in his pelvis and legs. I had a vision of him shuffling down an icy driveway in his slippers, and I said, “That must have been one hell of a fall, Don.” He said, “No, actually, it was a hang-gliding accident.”

That just goes to show that older people are a diverse bunch. They have incredibly diverse plans and ambitions. They wish to be entrepreneurs, they wish to travel, and they have diverse responsibilities. We need to give them as much freedom as possible. We would not tolerate the restrictions on our freedoms that we have expected them to accept in the pension system and other policies, so I am pleased that that has changed. How that dovetails with our care reforms is a vital question. The new financial products that we want in the marketplace will probably not be fit for purpose for another couple of generations. That is also the case for the type of product that Dilnot wished to see and measures allowed under the Care Bill reforms. While we are waiting for those things to come on-line, it is vital that we make sure that people have as much freedom and as much choice as possible as to how they spend their money.

Finally, and briefly, I put it on record that I am very pleased to see help for high energy-use businesses. That is a major issue in the constituency I represent. The president of the Aluminium Federation, who has his factory in Portsmouth, is absolutely delighted and he is not alone in that. In Portsmouth, we are at a very exciting juncture. The maritime task force that was set up at the tail end of last year is just about to report, setting out a blueprint of what we need to do in marine and manufacturing to turn the Solent and Portsmouth at its heart into the maritime heart of the UK. There is a clear blueprint for that and investment earmarked for precisely those things.

We are able to compete really well and I think that is because of the business environment that is being created not only from this Budget, but from successive Budgets. We have managed, in just a few months, without a formal marketing process in place, to gain interest for an order book for the shipyard at Portsmouth of over £1 billion. That shows that we are able to compete not only with northern Europe, but with Dubai and shipyards around the world, and that Britain is an attractive place to do business and Portsmouth is a stellar yard to build ships in.

I particularly welcome the announcements on energy and on pensions in the Budget and commend the Chancellor and the Front-Bench team for their excellent work.