Why not make a statement on the Crisis in Funded Pensions, on which the Secretary of State refused to comment?
No wonder the Government deny that there is a Crisis in Our Funded Pensions when they are taxing them more, regulating them more and spreading means-testing to penalise saving.
There will be a debate entitled "Crisis in Funded Pensions" on an Opposition motion.
Everybody else might say that there is a Crisis in Our Funded Pensions, but we know that everything is all right, because we are saving £86 billion a year in our pension funds".
As I have said, I suspect that the consensus starts to break down when we consider the causes of the Crisis in Funded Pensions.
The welfare and income of all pensioners must be central in any civilised and caring society, so will the Minister acknowledge the depth of concern felt by millions of public sector pension contributors about the Crisis in Funded Pensions?
In fact, I have some of the previous consultation documents here, and, as they have poured out of the right hon. Gentleman's Department, the Crisis in Our Funded Pensions has got steadily worse.
I beg to move, That this House acknowledges the serious concern about the current state of the UK economy, including economic imbalances, the failure of the Chancellor of the Exchequer to meet his economic forecasts, the ever higher taxes, the disproportionate fall in the UK stock market, the decline in productivity growth, and the Crisis in Funded Pensions; recognises the harm done to business and the enterprise culture as a result of increases in red tape and business tax since 1997, now estimated to cost up to £15 billion a year; is shocked by the Chancellor of the Exchequer's complacency on these matters; is concerned that the forthcoming rise in National Insurance contributions will have further adverse effects on jobs, incomes and economic confidence; notes that tax revenues have already risen by £36 a week for every man, woman and child since 1997; deplores the fact that, despite substantial increases in taxes and Government expenditure, the lack of real reform means that the promised improvements in public services have not materialized, with a recent rise of 22 per cent.
That is a fundamental feature of the current Crisis in Our Funded Pensions, and I hope that the Minister will be able to address that issue.
The Chancellor failed yet again to recognise the scale of the Crisis in Funded Pensions.