18 October 2011
Speaking during a debate in the House of Commons, Alok Sharma condemns Opposition proposals for unfunded pension commitments that will add to the deficit and debt in the future.
Alok Sharma: I am grateful to the hon. Gentleman for acknowledging that the Government have moved some way on the transitional arrangements, but may I ask him a question that I asked his predecessor, the hon. Member for Leeds West (Rachel Reeves), in Committee? How does he expect to fund the changes that he proposes?
Gregg McClymont: Is the hon. Gentleman aware that the savings that we are discussing have absolutely nothing to do with the deficit? They will accrue from 2016 onwards.
Alok Sharma: What the hon. Gentleman has said is interesting, given that when the Labour party was last in power, it did not really bother about saving for tomorrow. This is what his predecessor said when the point was raised in Committee:
“this is outside the period of the comprehensive spending review and the budget deficit reduction plan.”—[Official Report, Pensions Public Bill Committee, 5 July 2011; c. 8.]
As the hon. Gentleman knows, we are not going to suddenly stop spending and raising money after the budget deficit has gone. If we keep making unfunded pension commitments, that will add to the deficit and the debt in the future.
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Alok Sharma: I thank the hon. Gentleman for giving way. He is making a passionate point, and he talks about social justice and fairness, but all those on whose behalf he speaks up will ask, “If the Labour party ever get back into power, will they enact these changes?” It is a fair question for everyone to ask, and it is fair that he gives us an answer today.
Gregg McClymont: After the hon. Gentleman’s previous intervention, he did not listen to the answer; given that intervention, he did not listen to the answer I gave the hon. Member for East Dunbartonshire. He just does not seem to get it.
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Alok Sharma: My hon. Friend makes the point that we are not in an ideal world. A large part of the reason why we are not in the world that we would like to be in is that the previous Labour Government left us with a record deficit. Labour Members are now talking about another £10 billion. Does she agree that it is ludicrous for them to talk about unfunded commitments, and that they should instead apologise for the mess that they left the country in?
Jenny Willott: We need to focus on what is realistic and affordable. The Bill will affect people’s lives, and we need to ensure that the state pension is affordable and sustainable long into the future. I want to receive the state pension that I have paid into when I come to retire, and I am sure all hon. Members and people out there in the country would want the same thing.
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Alok Sharma: I am grateful to the hon. Gentleman for acknowledging that the Government have moved some way on the transitional arrangements, but may I ask him a question that I asked his predecessor, the hon. Member for Leeds West (Rachel Reeves), in Committee? How does he expect to fund the changes that he proposes?
Gregg McClymont: Is the hon. Gentleman aware that the savings that we are discussing have absolutely nothing to do with the deficit? They will accrue from 2016 onwards.
Alok Sharma: What the hon. Gentleman has said is interesting, given that when the Labour party was last in power, it did not really bother about saving for tomorrow. This is what his predecessor said when the point was raised in Committee:
“this is outside the period of the comprehensive spending review and the budget deficit reduction plan.”—[Official Report, Pensions Public Bill Committee, 5 July 2011; c. 8.]
As the hon. Gentleman knows, we are not going to suddenly stop spending and raising money after the budget deficit has gone. If we keep making unfunded pension commitments, that will add to the deficit and the debt in the future.
| Hansard
...
Alok Sharma: I thank the hon. Gentleman for giving way. He is making a passionate point, and he talks about social justice and fairness, but all those on whose behalf he speaks up will ask, “If the Labour party ever get back into power, will they enact these changes?” It is a fair question for everyone to ask, and it is fair that he gives us an answer today.
Gregg McClymont: After the hon. Gentleman’s previous intervention, he did not listen to the answer; given that intervention, he did not listen to the answer I gave the hon. Member for East Dunbartonshire. He just does not seem to get it.
| Hansard
...
Alok Sharma: My hon. Friend makes the point that we are not in an ideal world. A large part of the reason why we are not in the world that we would like to be in is that the previous Labour Government left us with a record deficit. Labour Members are now talking about another £10 billion. Does she agree that it is ludicrous for them to talk about unfunded commitments, and that they should instead apologise for the mess that they left the country in?
Jenny Willott: We need to focus on what is realistic and affordable. The Bill will affect people’s lives, and we need to ensure that the state pension is affordable and sustainable long into the future. I want to receive the state pension that I have paid into when I come to retire, and I am sure all hon. Members and people out there in the country would want the same thing.
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