David Norris (Independent)

I also welcome the Minister to the House and thank him for his very clear speech. Unfortunately, I did not have the privilege of hearing it, but I have read it. The cardinal points are raising the minimum public service pension age, increasing the rate of pension contributions, modifying the earnings-linking of pensions, adjusting or abolishing fast accrual terms and moving to the calculation of pensions on the basis of "career average" earnings. Generally speaking, I approve of the Bill but I have some difficulty with section 47 because it appears to give a power of retrospection, which I am against on principle.

I take a much more pessimistic view than most of my colleagues here because everyone else in this House is a capitalist of one kind or another and I am not. It appears to me ---