Oral Answers to Questions
Debate between Steve Webb and Karl Turner(12 years, 12 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
The Minister of State, Department for Work and Pensions (Steve Webb)
We are gravely concerned about these proposals. The UK Government do not accept the need for new solvency arrangements for defined benefit schemes based on solvency II, which would have potentially serious effects for UK defined-benefit pension schemes. We are especially concerned about any proposals that would increase costs for employers at a time when we are looking to keep costs down, or that might affect the vital role pension funds play as investors in the UK. We will oppose these proposals.
Karl Turner (Kingston upon Hull East) (Lab)
T4. Has the Minister revised his previous estimate that, by 2012, 25,000 single parents will be in work when their income support ends when their youngest child is five years old? Does he not accept that unemployment in my area, Hull, is at a record high, thanks to his Government’s policies?