Steve Brine
Main Page: Steve Brine (Conservative - Winchester)I am listening carefully to the Minister, as always. She says that it is not clear what the implication of such an extension would be for pension rights, so please will she explain where the figure of £4 billion has come from? We all understand that these are times of great austerity, and we do not want to vote for something that would cost the taxpayer £4 billion that we do not have.
My hon. Friend is absolutely right. The Minister of State, Department for Work and Pensions, my hon. Friend the Member for Thornbury and Yate (Steve Webb), attended the Joint Committee on Human Rights with me last week, and he has gone into a great deal of detail on this matter. He and his Department have estimated that the potential liability could be some £4 billion. It might be less, but at the moment we simply do not know. The cost of the equalisation of survivor rights in contracted-in and contracted-out schemes could account for about £90 million. We would also need to look at the equalisation of the rights of widowers with the rights of widows, at which point the bill would start to rack up. It would not be right for Parliament to legislate when so many issues are outstanding.