Quality Workplace Pensions

Tom Blenkinsop Excerpts

Thursday 27th March 2014 Commons Chamber

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

Last, but certainly not least, the voice of Middlesbrough South and East Cleveland—Tom Blenkinsop.

[Tom Blenkinsop (Middlesbrough South and East Cleveland) (Lab)]

Thank you, Mr Deputy Speaker.

I find the Minister’s statement fascinating given that he said only recently that putting a cap on pensions was like trying to put

“a price cap on a tin of baked beans”.

I wonder whether he read this in yesterday’s Financial Times:

“Labour led the way with criticism of the annuities market and high opaque fees on pensions, long before the coalition took action.”

Would he care to comment on that very good article?

[Steve Webb]

I would. It is no coincidence that that newspaper is printed on pink paper. It has run stories about our plans for a price cap which, now that we have made our announcement, will be shown to have been wholly inaccurate. Those who have subscriptions to that newspaper might wonder whether they can always believe what they read in it.