Mark Garnier
MP for Wyre Forest · Conservative · United Kingdom
“Like my hon. Friend the Member for North Cotswolds (Sir Geoffrey Clifton-Brown), I agree that merging six district councils and one county council into one unitary authority for 650,000 people is a good idea—it has a lot of efficiency. In Worcestershire, we have 630,000 people, six district councils and one county council.”
House of Commons29 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“May I start by thanking the Secretary of State for his very measured and intelligent thoughts about the GDP growth rate? I lament that some others in his Government seem almost complacent about the International Monetary Fund’s increasing GDP growth expectations from 1% to just 1.3%, putting us second in the G7.”
House of Commons15 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I thank my hon. Friend and constituency neighbour for securing this incredibly important debate. When he talks about the problems in Bromsgrove, he is speaking about a wider problem for the whole of Worcestershire and, indeed, the West Midlands.”
House of Commons13 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Dr Murrison, you will be delighted to hear that this is a highly uncontentious set of proposals, which the Opposition are fully behind. There is an opportunity, potentially, to talk about the merits of the Building Societies Act 1986 and how it could be updated, but now is probably not the time.”
House of Commons13 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Many commentators have commented about public sector productivity underperformance. EY tells us that the public sector has underperformed to the point where it has cut GDP growth by 3% since 2019. The Institute for Government highlights an average of nearly 1% underperformance every year for that same period.”
House of Commons8 September 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My right hon. Friend raises another big argument that we could have on the issue of rural broadband, but it is worth making the point regarding internet connectivity that I was just coming on to. I know this is as painful in other constituencies as it is in Wyre Forest.”
House of Commons1 September 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
The complete record
1,942 lines on record for Mark Garnier, in date order, each linked to its source. Free to read, without an account. Most recent 500 lines shown. Search to find more. Page 5 of 10.
This is not an official version of UK Parliament proceedings. It reproduces the published record and links to it; the official version is the one UK Parliament publishes.
“Clause 36 applies to CISs, and clause 37 applies to share exchanges and company reconstructions, so the argument pertaining to the general principle and practicality of the Government’s new anti-avoidance measures also applies to those clauses. With regard to clause 38, we support tougher measures to tackle tax avoidance to close the tax gap. The clause seeks to change the no gain/no loss rules if HMRC suspects that a transfer of business has taken place to secure a tax advantage. Those rules have been instrumental in the process of transferring a business. They are especially useful for arrangements between complex structures. No gain/no loss rules can ensure fluidity throughout the transfer process, and they stave off cash-flow issues during the process itself.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Contrast that with 31% due to failure to take reasonable care, 15% due to error and 12% due to legal interpretation. What those behaviours have in common is they involve genuine mistakes being made, so pursuing the route set out in clauses 36 and 37 risks hurting those who enter arrangements for solely commercial purposes who may have simply made honest mistakes. With regard to clause 37, we support tougher measures to tackle tax avoidance to close the tax gap. The methods of deferring tax for general company reconstructions and share exchanges are identical to each other’s and to that for collective investment schemes. The key difference between clauses 36 and 37 is the business practice to which the anti-avoidance measures apply when arrangements are made to avoid tax liability.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“On clause 36, we support tougher measures to tackle tax avoidance and close the tax gap. Under the previous Government, the tax gap of the total theoretical tax liabilities fell from 7.5% in 2005-06 to 5.3% in 2023-24. But it is crucial that legislation is not so broad to the extent that people entering into arrangements for legitimate commercial reasons face the brunt of HMRC’s enforcement powers. The scale of genuine tax avoidance as a proportion of the total tax gap is important to note. According to HMRC, in 2023-24, avoidance behaviour as a share of the tax gap was just 1%. It was also 1% in the 2022-23 tax year and was 2% in 2021-22, 2020-21 and in 2019-20. Avoidance ranked lowest among the behaviours that contributed to the tax gap.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Should a landlord undertake that process and then find themselves receiving an unexpected tax bill, that could add significant pressure on their investments, which in this case involve houses occupied by tenants. It is not clear how awareness will be raised so that those eligible for relief do not pay such a tax bill. While I know HMRC has outlined the proposal and will provide guidance, there is no mass communication or awareness campaign. That means that any information campaign that does eventually happen may be too late.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Clause 39 requires taxpayers to claim incorporation relief or pay CGT up front. It is key that sole traders and other eligible people understand the changes the clause makes. What concerns us is whether enough awareness has been made to affected people, and that is crucial as claiming incorporation relief has always been a passive process because it happens automatically. Soon, people who have been accustomed to this passiveness must acutely manage their relief claims. We do not want anybody who has been conducting legitimate business to suddenly be hit with an unexpected tax bill. Landlords, for example, are a common entity who claim incorporation relief. They do so by transferring their rental property portfolio into a limited company.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Under the clause, non-UK residents in CIVs will no longer be required to register for corporation tax or claim capital gains tax relief if the double taxation treaties fully cover the gains they have made. The Government’s rationale for that is to streamline paperwork and reduce redundant filing—hurrah! I cannot begin to explain my happiness about trying to reduce red tape. It is fantastic to get rid of it where we can. Our tax code is 22,000 pages long and has 10 million words. Anything that makes that easier is hugely welcome.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Different cells may behave differently from each other or have differing risk appetites—therein lies the risk. A situation where one cell is investigated by HMRC, and the audit process proves frustrating because that cell’s conduct is aggressive or inappropriate, risks tarnishing the entire PCC in the assumption that the other cells behave similarly. Subsequent audits could then become more aggressive and difficult. As I said, we support measures that tackle any exploitation of the corporate structure to avoid paying tax. The Government must ensure that the implementation of clause 40 protects innocent parties that may be affected. Clause 41 focuses on non-UK residents, individuals and companies in collective investment vehicles who sell UK land or property connected to CIVs under double taxation treaties.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Clause 40 tackles the use by UK non-residents of protected cell companies to avoid paying non-resident capital gains tax. We agree that corporate structures should not be exploited to shelter people from paying their fair share of tax. However, we must consider the practicalities of how an audit of one cell may affect other cells and the PCC itself. PCCs have their benefits. For example, the ringfencing of assets and liabilities can ensure that any issue with one cell does not spread to others. In that sense, PCCs can be more robust and durable. Audits, of course, are absolutely necessary to ensure compliance and legality. However, they can also prove costly and stressful for a company owner who is simultaneously running a business. Cells do not have full autonomy; much of that resides in the core of the PCC.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Thank you for your guidance, Sir Roger. I am very grateful that you are in the Chair, because although I have been doing this for 15 years, as you know, and this is about my fifth Finance Bill, I do not have a clue how any of it works.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“None the less, the more the Minister can say about capping corporation tax at 25%, the more confident businesses and our economy will be that something will not be slipped in during the next three and a half years before the general election. We have no other objection to this measure.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is of course standard practice—as with income tax—for the Government to legislate the charge for corporation tax every year. These rate levels have remained unchanged since Labour came into office. As my hon. Friend the Member for Grantham and Bourne (Gareth Davies) pointed out last year, Labour promised to cap the corporation tax rate at 25% for the whole of this Parliament. That has not been done in legislation, although we have had an indication from the Minister that that is still the Government’s intention. I will make just one small political point. The Government did promise that they would not increase taxes on working people, but we have seen national insurance contributions increase—that was obviously in a different Bill.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“He states that employees of manufacturers and retailers could instead seek out older or less clean cars to purchase, outside any employer or employee management arrangements. The point is that there are unintended consequences to the clauses. Although we will not oppose them, we want the Minister to take into account the fact that the Government may not get what they want out of them.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It predicts that the removal of ECOS could undo the progress that electrified vehicles, including PHEVs, have achieved by denying workers affordable access to new and increasingly zero emission vehicles. CBVC Vehicle Management has said that these measures continue to make PHEVs look attractive in the short term, but the chief executive, Mike Manners, has advised people considering a PHEV to look at the benefit-in-kind tax implications and avoid their lease running into the tax year 2028-29. The benefit-in-kind easement is temporary until 6 April 2028. Anthony Cox of RSM UK says that manufacturers do not expect that the reforms will push people into using electric cars.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That could push plug-in hybrid emission vehicles into higher emission bands, and more tax will therefore be paid on them in the future. The knock-on effects on electric car manufacturers and the environment could be stark. Clause 19 is part of the same package that endangers jobs in the automotive manufacturing industry, which will lead to a loss of about £500 million in VAT and vehicle excise duty receipts. Automotive News has reported on the progress of electrified vehicle registrations: it says that in October 2025 PHEV registrations rose by 27.2%, and that electrified vehicles represented the majority of new car registrations, at 50.8%. The SMMT says that in 2025 the new car market reached 2 million units for the first time since 2019.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The SMMT estimates that that could become unaffordable for its members’ staff and automotive workers. The knock-on effects outlined in the discussion of clause 17 will remain. Fewer employees will be attracted to purchasing a vehicle. That will lead to fewer employers purchasing vehicles from car manufacturers, and the risk to manufacturing jobs and lost revenue will therefore still apply. Clause 19 aims temporarily to ease the benefit-in-kind tax treatment for plug-in hybrid electric vehicles. We understand the intention behind this legislative change. We want people to take up low-emission electric vehicles, and the taxation system is an effective tool to encourage that. We are also conscious that stricter emission tests will be implemented over time.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That more than outweighs the £275 million in revenue that the Treasury predicts it will take within the first year of the tax changes taking effect. We do not feel that clause 18 adequately protects the automotive industry and its workers. Under current ECOS arrangements, employers can sell a vehicle to an employee below market value, at a discounted price. For many employers, that has acted as an additional benefit to form a competitive employee recruitment package and has helped to improve staff retention. These criteria effectively stipulate that vehicles must be sold on the same terms as in the open market. Although exempt employers will not pay benefit-in-kind tax, they will inevitably have to pay a higher price for the vehicle itself.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“There is a risk of further knock-on effects on the automotive industry if workers abandon ECOS completely. The chief executive of the Society of Motor Manufacturers and Traders, Mike Hawes, who is one of the leading voices in the automotive industry, has expressed strong disapproval of the Government proposal to change ECOS. That is because 100,000 cars are provided through the schemes each and every year, which alone amounts to 5% of the new-car market in the UK. The SMMT predicts that changing the schemes will endanger 5,000 manufacturing jobs in the UK; it claims that that will bring about a loss of half a billion pounds a year due to fewer sales, lost VAT and lost vehicle excise duty receipts.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I thank the Minister for her comments, but we are concerned about the unintended consequences of the three clauses. We are concerned about how clause 17 will affect automotive industry jobs and vehicle sales. Approximately 76,000 workers use ECOS, across 1,900 medium-sized and large businesses. Those workers have utilised ECOS for essential, affordable and reliable personal transport. We believe that the clause risks making ECOS vehicles unaffordable for the workers who currently use them. In fact, using the scheme arrangements and paying tax from 2030 to 2032 onwards means that such workers face, in effect, a pay cut. That is especially unfair because those people who most use the schemes rely on a vehicle for their job much more than those in most other industries.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“More generally, I want to make a point that my hon. Friend the Member for Mid Buckinghamshire (Greg Smith) made on the Employment Rights Bill Committee. While the clause provides fairness in the system between employees, the Government are still providing little support for businesses if they have to cancel, move or curtail shifts in circumstances that are unexpected or out of their control. Will the Minister commit to working with her colleagues in the Department for Business and Trade to assess how they can better support businesses when such situations arise?”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It also seems to be a further attack on private sector employees, despite the fact that in 2024 HMRC spent £82 million on remote working devices for its workers, while the Home Office spent £53 million. Is this another example of the Government hitting the private sector while protecting the public sector? Clauses 22 and 23 confirm that payments received in Great Britain for cancelled, moved or curtailed shifts are subject to income tax. In the explanatory notes, the Government state that this would also allow for “the introduction of regulations to ensure that payments are also subject to National Insurance contributions”. We think it would help to provide fairness in the tax system to support the clarity that the clause provides, so can the Minister confirm when the Government will seek to introduce those specific changes?”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“On clause 21, the Government’s policy paper suggests that there will be no direct impact on business. However, there may be an indirect impact, as employers feel pressured to change their policies on reimbursement. As the Chartered Institute of Taxation points out: “This creates an uneven situation in which two employees with identical working arrangements and costs are treated differently for tax purposes solely on the basis of their employer’s reimbursement policy.” It also seems to follow our party’s scepticism about solely remote working. During the passage of the Employment Rights Act 2025, the Government said repeatedly that the right to work from home boosts productivity. Clause 21 seems to go against that by making it more difficult to work from home.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Clause 20 will introduce specific exemptions for minor expenses incurred by an employee on behalf of their employer. The Opposition particularly welcome subsections (3) to (6). As the Institute of Chartered Accountants in England and Wales says, it is a positive step that focuses on prevention rather than cures. It is also about the trade-off between tax relief and reduced future healthcare spending. As the Association of Taxation Technicians has asked, will the Minister consider whether the covid-19 vaccination could be included in this provision? The Government’s explanatory notes state that corresponding changes to NICs for influenza vaccines and homeworking equipment will be made through separate regulations. Will the Minister provide more detail on when we can expect those regulations to be introduced?”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That means that, for instance, personal service company arrangements could fall within the definition. Is it the Government’s intention to include personal service company arrangements within the definition of a purported umbrella company? I should declare an interest: I have a personal service company. Can the Minister expand on what discussions on the clause have taken place with industry organisations such as the Freelancer and Contractor Services Association, which provides accreditation for many umbrella companies?”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“However, the Chartered Institute of Taxation has raised two particular issues, and I would be grateful for the Minister’s comments on them. First, there seems to be an absence of safeguards. Currently, HMRC can transfer liability to the agency regardless of its circumstances. When an agency has done all it can to ensure the integrity of the supply chain, but has been the victim of fraud by the umbrella company, we think there should be safeguards in place to prevent the transfer of debts. Secondly, there is some concern that the definition of “purported umbrella company” is too wide. The clause defines such a company so as to include any entity supplying an individual with services where that individual has a material interest in the entity.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Back in 2023, the Conservative Government opened a consultation on how to tackle non-compliance in the umbrella company market, because there was evidence of widespread non-compliance that deprived workers of their employment rights, distorted competition in the labour market and led to a significant tax loss to the Exchequer. In the 2024 autumn Budget, the Chancellor announced that she would follow up the consultation, hence this clause. The Government state in their explanatory notes that the clause seeks “to drive behavioural change among businesses that use umbrella companies in the supply of workers by giving them a financial stake in the compliance of the umbrella companies that they use.” I think there is broad agreement about the need for this measure in tackling tax non-compliance in the umbrella company market.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Could the Minister provide a little more detail as to why the Government have excluded those who have already settled their claims?”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Conservatives welcome the independent review and the thrust of clause 25. If we were to have a criticism, it would be to do with fairness, on which we had concerns shared with us by the Low Incomes Tax Reform Group. A key objective of the McCann review, which the Minister referred to and which was set up by the Government, was to ensure fairness for all taxpayers. However, by not extending the more generous settlement opportunity to those who have already fully settled and/or paid the loan charge, the provision arguably does not achieve fairness for all taxpayers. It will effectively put those who chose not to comply with their tax obligations in a better position than those who did. That could create perverse incentives, harm future tax compliance and damage trust in the tax system.”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We have already heard this morning that businesses are suffering harm from business rates and national insurance contributions going up, but on top of that, according to the Office for National Statistics, the energy bills of non-energy intensive industries such as hospitality and retail have increased under this Government by up to 10% in the last year. The Conservative are proposing our cheap power plan, which would save small businesses up to £5,000 a year on their energy bills. What is the Minister doing to help small businesses with their energy bills?”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Chancellor has been very proud that the FTSE 100 has passed through the 10,000-point barrier, citing that as an endorsement of her policies. Does she not realise that that still leaves FTSE 100 on lower valuations than comparable markets and that, in any event, over 80% of the earnings of the FTSE 100 are generated outside the UK? Is it not clear that the FTSE 100 performance is despite this Government’s policies, not because of them?”
House of Commons27 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Thank you, Mr Speaker—I had better add my sympathies for your poor leg to those of the hon. Member for Harlow (Chris Vince). The Labour party has performed, frankly, a spectacular U-turn on its support for WASPI women, but now it finds itself bogged down in judicial reviews and accusations of incompetence. If the Government cannot even deliver literally nothing for the WASPI women without messing up, what hope is there for them delivering wider welfare reforms?”
House of Commons26 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It remains the wrong policy to pursue, and that is why we will vote against it.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I beg to move amendment 5, page 1, line 10, after “income tax” insert— “at the higher or additional rate”. This amendment would exempt basic rate taxpayers in England, Wales and Scotland from the £2,000 cap.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“They also want to whack a younger generation even harder than those who enjoyed free university education. That younger generation cannot afford to buy a house and have to pay for university education. The Government have made it far harder to get a job, with their jobs tax, and at a time when we are desperately trying to get people to save for their retirement, they are making it harder to save for a pension. I challenge Labour MPs. Why are they being whipped to vote against these measures and against the interests of lower-paid people? Why are they being asked to vote against the interests of graduates and younger people and vote for a regressive tax?”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Graduates on the basic rate of tax will see not just a loss of 8% for their national insurance schemes, but a total loss of 17% of the benefit at the marginal level above the £2,000 cap. The director of the Chartered Institute of Taxation agrees. She said: “The change will disproportionately affect basic rate taxpayers because they will pay at 8% NIC on contributions over the £2,000 cap, compared with a 2% charge on higher earners. It will also disproportionately impact those with student loans who earn above the repayment threshold, as they will have incurred an extra 9% student loan deduction from their pay.” At a time when we are trying to get people to do the right thing and save for the future, it seems that the Government want to whack the lower-paid harder. Because of the way that this system works, they will whack the lower paid.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That is not a good thing—indeed, 8% is two-fifths of the value of the other contribution for which they benefit from their income tax savings. In absolute terms, as I have said, the marginal rate is four times more expensive for lower rate taxpayers than it is for higher rate taxpayers, but there is an even bigger problem: this is a harder attack on other types of savers than we had anticipated. Another group of people affected are those paying back student loans. Graduates pay back their student loans once they pass the thresholds of £28,745, and they do so at a rate of 9%. Graduates who would otherwise enjoy that 9% that goes into student loans being paid into a pension will not see it being paid into their pension because of the salary sacrifice cap. The effective loss for a graduate paying back student loans is 9%.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We all understand that, but it not only takes advantage of the income tax allowance, as with all pension contributions, but allows national insurance contributions to be included and transferred into the pension, in the case of an employee national insurance, and allows for employer national insurance to be used at the discretion of the employer. The employee element—the national insurance that we all pay as employees—is the important part of this matter. While higher rate taxpayers will continue to enjoy 40% tax relief at their higher rate, the national insurance is just 2 percentage points—around one-twentieth of the tax break on the income tax. While a basic rate taxpayer enjoys just 20% income tax breaks, their national insurance contribution is 8%. The effect on lower-paid workers is four times that on higher-paid workers.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“They are mirror arrangements for each other. Importantly, we are trying to make what we feel is a very poor Bill into something that is less poor. The amendments would make basic rate taxpayers exempt from the £2,000 cap. They would support the group in the UK that typically under-saves and is the least prepared for retirement. According to the Society of Pension Professionals, a quarter of the people who enjoy salary sacrifice, who will be hit by the changes that this Bill brings in, are basic rate taxpayers. Around 850,000 basic rate taxpayers will be affected by the cap. More fundamental to that is the fact that this group of people—lower-paid workers—will be hit disproportionately hard. Salary sacrifice allows an employee to give up a certain amount of their salary to be contributed to their pension directly by the employer.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“These amendments look to make the £2,000 cap naturally rise in line with the consumer prices index. We have brought these amendments forward because if the cap remains static, it will become increasingly meaningless. We have seen today, when we have had an above-expectation inflation rise of 3.4%, that would clearly devalue the value of the cap, even by the time that it is implemented in 2029. Our amendments seek to address that so that salary sacrifice arrangements do not become redundant without parliamentary intervention. Obviously, we use CPI because it is the basis for inflation. Again, the ABI has made a similar argument, as the cap does not allow for inflationary changes. Having said that, we do not propose to press those amendments. Let me move on to amendments 5 and 6, which we feel particularly strongly about.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Association of British Insurers has said: “We have consistently raised concerns about the potential impact of a cap on pension salary sacrifice on both people’s savings and employers’ resources.” There are some issues that are of great concern to many people on this matter, so have the Government fully considered the knock-on effect that it will have on investment from UK pension funds? Also, will the Government update the terms of reference for the pensions commissioner, which is being led by Baroness Drake, to ensure that this is considered? We are unlikely to press new clause 4 to a vote. However, I believe that the Liberal Democrats’ new clause 5 would have a similar effect. Should the Liberal Democrats wish to move the new clause, we would support it. Amendments 7 and 8 concern the indexation of the cap.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We asked for something similar in the Pension Schemes Bill, but the Pensions Minister described it as unnecessary. In this case, the Government seem not to have listened to industry, to experts or to savers. Our new clause asks the Government to do that, so that we can better understand the impact. First, how will the Bill affect pensions adequacy? That will be after the pensions review has concluded, so we do need to know. Secondly, how many people use salary sacrifice or optional remuneration arrangements? Thirdly, what are the investment capability of UK pensions? There has been a certain amount of commentary on this matter.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is a great pleasure to be with you yet again, Ms Nokes. I enjoyed our last sparring with the Pensions Minister just before Christmas, which cheered us up to no end. Let me speak to amendments 5, 7, 6 and 8 as well as new clause 4, which all stand in my name. It will not surprise the Pensions Minister to hear that we are not at all happy with this Bill, which actually will do nothing to enhance pension savings. I will go through each of our amendments in the reverse order of importance. New clause 4 would require the Government to assess the impact of the Bill, should it receive Royal Assent, before and after its implementation in 2029. We think it is important that the Government do their homework before implementing policies.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I completely agree. That is a fundamental problem. We are doing completely the wrong thing for people who want to do the right thing. We are disincentivising people taking responsibility for their future at a time when the state pension is coming under a lot of pressure. It is expected in 11 or 12 years, I think, that less money will be paid into the pension schemes pot than is withdrawn by those of us who are approaching retirement—I declare an interest, in my own case.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am trying to finish my speech—in fact, I had finished my speech. This is a very important point, and we will push amendment 5 to a vote. As I said, we will challenge Labour MPs not to do the wrong thing for their constituents—for the young, hard-working graduates who are desperate to do the right thing.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We hear all those concerns loud and clear from businesses, savers and all the rest of them, which is why we want the Government to think again on this issue and why we will vote against this Bill on Third Reading. People are simply not saving enough for their retirement. Rather than restricting the options, we should be encouraging the creation of new incentives that encourage people to save more. Instead, the Government are pushing through a Bill that will do the opposite. It is unbelievably unpopular because it punishes 3.3 million people who actively try to save for retirement by punishing the 290,000 employers who incentivise their employees to save. Worst of all, it breaks another of Labour’s manifesto promises: that it will not increase taxes on working people.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It goes against that basic, important and agreed objective of people planning for their futures. More importantly, it goes against the Government’s own financial inclusion strategy. As the Economic Secretary to the Treasury set out in November, “Our aim is to create a culture in which everyone is supported to build a savings habit, building their financial resilience in the long term.” How does the Bill accomplish that reasonable ambition? It won’t, because it disincentivises employees from saving more in their pensions and it disincentivises employers from providing it as an option in the first place. Altogether, it is the wrong policy that sends the wrong message at the wrong time. We gave the Government a chance to address some of those concerns earlier, and they did not take it.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“As I pointed out earlier, the Society of Pension Professionals estimates that over 850,000 basic rate taxpayers who use salary sacrifice will be affected by the changes, and those 850,000 people will be taxed at a higher rate than their wealthier colleagues—something that the Government apparently seek to target with this policy. And I always thought that Labour Governments were meant to be on the side of working people, Madam Deputy Speaker! Fifthly, and finally, the Government are voting for a Bill that will make the impending pension adequacy crisis worse. As I said in my introduction, there is widespread agreement that people are not saving enough, so why make the second largest revenue-raising measure of last year’s Budget one that goes after people’s savings for later life?”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Friend the Member for North Bedfordshire (Richard Fuller) pointed out when winding up on Second Reading, the change appears to have been timed to maximise revenue in 2029-30: the year that counts for the Chancellor’s fiscal rules. That is £4.8 billion to fill the Chancellor’s black hole—she will have one by then—in order to make a cynical attempt to stick to a fiscal rule. This is a cynical measure that destroys a lifetime of savings opportunities for just one year of revenue. Frankly, it is also likely that the Government will not raise anywhere near the £4.8 billion budgeted for, as higher earners max out the benefits of the scheme before it comes into force in 2029; and, in any event, people are figuring out a workaround. Fourthly, the Government are voting for a Bill that harms lower earners the most.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The savings that employers achieve through salary sacrifice arrangements are often invested back into their employees and their businesses, including through increased pension contributions to all employees, higher wages, or more investment into plant and machinery for growth. That is a good thing. The Government are now taking money away from the productive part of the economy and putting it into other parts. No wonder businesses think that this is a nonsensical policy delivered by a directionless Government, who forget that businesses are the ones that create wealth in our economy, add value to it and drive growth. Thirdly, the Government are supporting a Bill that will not actually raise the stated revenue. As my hon.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“They are going for the option that the report considered to be the most complicated. The Government are choosing to confuse with complications a system that is currently the simplest to deliver. The changes will add an estimated £30 million each year in administrative costs to employers—and this comes at a time when businesses and the wider economy already pay an estimated £15.4 billion just to comply with the tax system. What about the effects on businesses, which see a 15% employer national insurance bonus through helping people to save? The changes will mean that employers will be hit with a 15% increase on the costs of employment.”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Given that the Government tabled no amendments to address the genuine concerns of savers and industry, it seems that the Minister is still apparently chuffed that he is implementing a policy that is, at best, the least worst option for everybody who was asked to comment. Secondly, the Government are voting for a Bill that will add to the administrative burden on businesses. The pensions system is already incredibly complex for experts to navigate, let alone the general public. That is why salary sacrifice arrangements have been such a popular savings tool for both employees and employers. The principles are easy to understand, with the only real piece of admin being on the employer to ensure that the employee does not fall below the national living wage. But what are the Government doing?”
House of Commons21 January 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗