Pension Schemes Bill
Debate between Viscount Thurso and Baroness Bowles of BerkhamstedThursday 5th February 2026
(1 day, 22 hours ago)
Grand CommitteeRead Full debate Pension Schemes Bill 2024-26 View all Pension Schemes Bill 2024-26 Debates Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: HL Bill 152-VII(a) Amendment for Grand Committee (Supplementary to the Seventh Marshalled List) - (4 Feb 2026)
Viscount Thurso (LD)
My Lords, I have one quick question to obtain reassurance, I hope, from the Minister in relation to Amendment 199 on taxation. I imagine that it is consequent on some of the problems that we had with the McCloud remedy, which required tax changes and the Treasury to intervene. The amendment uses the word “may”, which allows the Treasury to do it if it wishes. Should that not be “must”, in that what we are promising AWE is that nobody will be tax disadvantaged? I put that to the Minister and ask for some reassurance.
Baroness Bowles of Berkhamsted (LD)
I have a couple of questions. I must confess that these stem from previous occasions when promises to be at least as good do not appear to have happened, as in the AEA transfer. I am a little suspicious of this, as it seems to be in the same kind of area.