Oral Answers to Questions

Debate between Torsten Bell and Sarah Bool

Monday 1st September 2025 Commons Chamber

[Sarah Bool (South Northamptonshire) (Con)]

T3. One of the main benefits of saving into a private pension is the tax relief that people get from the Government, which is one of the smartest ways to save for later life. Any move by this Government to cut pension tax relief will devastate savings rates and the adequacy of pension provisions. I would hope that the Secretary of State knows that, so can she assure me that she has made it clear that when the Chancellor is looking to fill the fiscal black hole of her own making, she must not target pensions?

[The Parliamentary Secretary to the Treasury (Torsten Bell)]

The hon. Lady only had to wait till next week’s Treasury questions, when she could have asked her question, but she has the same answer. What we should do is look at the record of parties and what they have done. When I look back over the last 14 years of Tory Budgets, I see a party—[Interruption.] And the Lib Dems; thank you for pointing that out. I have seen parties chopping and changing pension tax relief left, right and centre, because they had no plan. Those were the same Budgets that drove child poverty up and wages down.