Pension Annuities (Amendment) Bill. Second reading debate.

- Friday, 11th January 2002

 

Mr. Peter Lilley (Hitchin and Harpenden): I am grateful to my hon. Friend for giving way and for supporting this excellent Bill. I confirm that from the social security point of view there has never been any opposition to these proposals. Indeed, I strongly supported moves of this kind when in government. The opposition has always come from the visceral opposition of the Inland Revenue to any measure that defers payment of tax even if, at the end of the day, extra tax more than compensates for that deferral. If there is Government opposition to the Bill and we cannot get it through today, my hon. Friend‘s proposal that Inland Revenue officials have money purchase pensions would allow us to make a lot of progress.

11 Jan 2002 : Column 806

 

 

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Pension Annuities (Amendment) Bill. Second reading debate.

 

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