Kirsty Blackman
MP for Aberdeen North · Scottish National Party · United Kingdom
“We do not have the ability to do what we asked of the Chancellor, which was to cut energy bills by at least £300—not even close to the manifesto pledge but getting there. We asked the Chancellor to make a difference so that people can afford to get through this winter.”
House of Commons28 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“People desperately need support with the cost of living. They do not need brown sauce, gherkins or marmalade; they need help with the cost of living. If we look at the documents the Chancellor produced today, he is less likely to hit his fiscal rules than the previous Chancellor was. That is what the back of the OBR book tells us.”
House of Commons28 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“He decides to pull money from the Acorn project in the north-east of Scotland, which supports hundreds of jobs for carbon capture and storage, and which the Climate Change Committee said was one of the projects needed to get us to meet our climate change ambitions. That is one of the things the Chancellor has chosen to do today.”
House of Commons28 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Folk in their 40s have no end in sight to their mortgage—whereas their parents had paid theirs off by then—because house prices have gone through the roof, and mortgage prices are even higher as a result of some of the decisions taken. What is the Chancellor doing? He is providing cheaper gherkins—great!”
House of Commons28 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“However, if the Government do not manage to make that, any slight change in the level of inflation or oil and gas prices could mean that the Chancellor massively misses his fiscal rules.”
House of Commons28 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Chancellor has completely failed to recognise the huge number of people living in fear of the next bill dropping through the letterbox. He is living in a different reality from the rest of us. He is providing some changes around the edges.”
House of Commons28 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
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“Once this measure beds in—once we have people being moved to default benefit solutions, or those boxes and the solutions have been created—how will it be kept under review? Will there be a process for review five years down the line, when a significant number of people have been moved to default benefit solutions, to ensure that it is working as intended and that any potential problems that Australia perhaps did not come across can be ironed out?”
House of Commons9 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am slightly concerned that, with pooling, the ability for local projects to be put forward could potentially be lost. Although I am not asking for any specific changes, I would ask that the Government keep an eye on that. Should there be significant numbers of smaller projects that are not being supported because of the changes that previously might have been supported, the Government should consider whether they need to take action to ensure that those voices are better heard and that those smaller projects still have the opportunity for investment. Thank you very much for allowing me to speak on this, Chair. I am assuming that we have also spoken on the clause stand part and are unlikely to debate that again at the end; I have therefore made most of my general comments here rather than particularly specific ones on the amendments.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is important that the pooling of resources means more investment in important and key projects than would result from a smaller organisation. Hopefully, the reduction in administrative costs will ensure that those schemes are significantly more efficient, but I am keen that we do not lose the local voice within the pension schemes that we have now. The case was made very eloquently on Tuesday that, while pension schemes take into account value for money—what we would have called best value in local government in Scotland—in decision making, they should ensure that they are not supporting projects that the community are absolutely up in arms about, because so many of their members will live in that community. Scheme members need that guaranteed return, but they also need their communities to be nice places for them to live.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is important that the Government ensure the correct monitoring, evaluation and also support of those organisations, so that if new training is required—for example, if environmental, social and governance provisions change, or decisions about where it is best to invest funds change—the Government commit to ensuring that trustees are given all the training they need. I believe that all pension trustees have a difficult job, but particularly those managing local government pension schemes, who are often local councillors—a task that, I know, is not a part-time job and is incredibly busy. The other concern raised on Tuesday, and which was just mentioned by my Liberal Democrat colleague, the hon. Member for Torbay, is about the locality of the decisions made.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Those working in the public sector tend to get a lower salary than they would in the private sector, but they often get access to a defined-benefit pension scheme or a career-average pension scheme, which is better than many people in the private sector get. There is a bit of give and take there. On Tuesday, we heard from the Local Government Pension Scheme Advisory Board and also from one of the pension schemes. There was a commitment that came forward in the evidence to ensuring trustees are appropriately trained—I am not for a second saying that they are not appropriately trained right now, but we must ensure that level of training is provided when they have many other competing demands on their time.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I declare an interest as a holder of deferred membership of a local government pension scheme in Scotland, which will come into scope should the Government amendments go through, as I imagine they will. First, I thank the Government for working with the Scottish Government to make these changes and for taking the decision to agree with the Scottish Government’s request for these changes to be made. It is appreciated. While I am on thank yous, the people who manage local government pension schemes are managing an incredibly significant amount of money and are ensuring that benefits are provided to many millions of people in those schemes. The hard work they do to steward those funds appropriately cannot be overestimated, so I say thank you to all the trustees who take that action on behalf of so many of us.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Pension schemes are one of the best vehicles for the patient capital that we need to be invested in the economy for it to grow, so I am little concerned that a requirement for annual reporting on specific investments may encourage short-term thinking. Can the Minister confirm what transparency regulations there are in relation to local government pension schemes and how they compare with those for other pension schemes?”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I want to ask the Minister about the comments made on Tuesday in relation to the transparency already required of local government pension schemes. My understanding is that local government pension schemes are already pretty transparent, and that they are required to publish significant amounts of information. On the amendment and the requirement for annual reporting, the case was made on Tuesday—I forget by who—that a particular moment in time may not give a true picture of what is going on. Investments may not provide an immediate return. In fact, pension funds are not necessarily looking for an immediate return; they are looking for a longer-term return so they can pay out to tomorrow’s pensioners as well as today’s.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It would not be classed as a local investment despite the fact that it would be very much for the benefit of people living or working within the scheme area. The level of flexibility in the clause, and the fact that the schemes will have to justify their investments anyway, is more sensible than what the amendment suggests. I understand the drive to ensure that provision is made for local investment in local areas, but because of the nature of some of those boundaries, it makes more sense to keep the clause the way that the Government have written it.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Members for Wyre Forest and for Mid Leicestershire are saying about the classification of local investments, I am not uncomfortable with the fact that the clause includes “for the benefit of persons living or working in” the area. If, for example, people in Aberdeenshire invested in a new swimming pool in Aberdeen city, I imagine that it would be used by a significant number of people in Aberdeenshire, and would absolutely be for their benefit. We should remember that the local government pension schemes will have to prove that the thing they are investing in is for the benefit of local people living or working within the scheme area, although it may be slightly outside it. For example, if they invested in a small renewable energy project providing renewable energy to local people across a border, they would fall foul of this.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I was thinking about how the amendment would work in practice in my local area. I live in the Aberdeen city council area. We are landlocked. We are surrounded by the Aberdeenshire council area. If those local authorities were in separate local government pension schemes, the effect of the amendment would be that Aberdeenshire council could not class an investment in Aberdeen as a local investment despite the fact that its local authority headquarters are in Aberdeen. That is the only sensible place for them because Aberdeenshire goes all around Aberdeen, and it is the only place to which someone can reasonably get transport from all the areas in Aberdeenshire. Although I understand what the hon.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“This is a genuine question that I do not know the answer to. Is reducing the contribution made by employers the only way that the funds can currently utilise a surplus, or are there other methods by which they can spend it?”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Minister has made a little bit of that case, but if he could expand on why the Government have chosen to change their approach, it would be incredibly helpful.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Government have requested to withdraw clause 3 and replace it with new clause 21. I am slightly confused as to how we got to the point where the Government did not make this decision in the first place, and how the Bill we discussed on Second Reading did not include the change being made to the Procurement Act, instead of the change being made directly in the Bill. Have the Government done significant consultation over the summer, or received input from various organisations that has made it clear that the new way they are now proposing is better than the original? I can understand that there are two different ways and that there may be a toss-up about which one is best, but why have the Government come down on the side of changing the Procurement Act rather than making the change in primary legislation in the Bill?”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“What is the Government’s rationale for not including Scotland in new clause 22? Is it because the Scottish Government looked at the original Bill and had not seen the amendments? Or is it because the differential structures between Scotland and the rest of the UK mean that it would not help in the Scottish situation? If the Minister is not clear on the answer, will he please commit to ask the Scottish Government whether they want to be included in the new clause and the relevant changes to be made so that it applies in Scotland? If the regulatory systems are the same, it seems sensible that a level playing field apply. It would be incredibly helpful if the Minister could make the commitment to check whether the Scottish Government want to be included.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“If the hon. Member for Wyre Forest can confirm that he does not intend the change to apply in Scotland, because we do not have strategic authorities, I am quite happy not to vote for or against it and to leave it to those who do have strategic authorities.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I have not tabled any amendments on this issue, but I raised it on Second Reading. It would be great if the Government gave me some comfort that they are considering whether—in the future with the Bill or, down the line, in the guidance that is given to trustees—to strengthen the hand of trustees, so that they can direct employers better and so they do not come under pressure from employers; or whether the Government will take policy decisions or directions, and point them out to trustees so that they are encouraged to go in a certain direction to ensure that there is growth in the economy, which is apparently the Government’s first mission.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Are they encouraging or instructing trustees to release surplus to employers if it will be invested in the business, or if it is being done to invest in workplace training schemes? I am not convinced that there is enough clarity on this issue. Given the Government’s drive to ensure that more people are working and that there is a reduction in the amount of economic inactivity, they could say, “Actually, if you are going to use this to improve access to work, to ensure that you can employ more disabled people, we will absolutely sign off a surplus release, provided that you have met all the other criteria.” The Government could encourage trustees to do that. I feel as though there are more levers that the Government could use and that they are not taking this opportunity.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Could the Government look in future at tightening what surplus release could be used for? Trustees have a fiduciary duty to ensure that members’ pensions grow as promised, and that they get the benefits that they were promised or that their defined-contribution scheme in other circumstances grows at the right level. However, if the fiduciary duty applies, why is there not a similar application in terms of surplus release? Why is there not a similar requirement on trustees to ensure that that surplus release goes the way that we think it should go? On Second Reading, I said that there had not been enough clarity from the Government about how they want that surplus to be released.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am concerned—this was raised previously—about the level of employer pressure that could come to bear on trustees about releasing surplus, when it may not be in the best interests of all the scheme members but the employer might be really keen to use the money. I am also concerned that we have had quite a lot of different ideas about what the surpluses could be used for. The Liberal Democrat spokesperson, the hon. Member for Torbay, made the same point as the Government about ensuring that employers could invest more to grow the economy, whether that is in bits of tech that make the company more productive or workplace benefits for those who are scheme members. Why did the Government decide not to strengthen the powers of trustees in relation to the surplus release?”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Perhaps it reflects my ideological position that I am much more comfortable seeing this happen with local authorities than I am here, and I am looking for more guardrails. In fact, there are more guardrails around how local government pension schemes do this. It can be done pretty much only if it is to reduce employer contributions, which increases the amount of money that local authorities have for either reducing council tax, as the hon. Member for Wyre Forest said, or for spending on whatever it is that they want to spend money on a day-to-day basis. I would like to see more power go to trustees.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“There is an absolute veto power—a yes or no—but it is also about the power for trustees to be able to say to employers, “This is how we would like you to use the money.” There is less flexibility for trustees there. Once the money is handed over to the employers, there is no comeback for trustees if employers do not use it as suggested.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Where there are employer blockers or other issues in the scheme rules, can anything be done, in the Bill or anywhere else, to remove those blockers so that we can ensure that trustees have an element of choice and remove some of the unfairness that we heard about on Tuesday?”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“As I said, I wanted to hear from the Minister. I agree that trustees should be the ones making the decision on how to spend any surplus and whether to make an uprating. However, as some schemes are barred by their scheme rules from making such an uprating, my concern is about allowing them the flexibility to make it in any circumstances if they decide that that is the best thing to do. It is not about tying their hands and saying that they have to make an uprating; it is about allowing every single scheme the flexibility to make it if they decide that that is the best thing to do.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Would the Minister encourage those schemes that find that they want to release the surplus in relation to the uplift, but are struggling to get that process across the line, to go to the TPR, look at the guidance that is coming out and ask for assistance with making those discretionary uplifts?”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Amendments 260 and 265 are incredibly similar—surprisingly similar, in fact—and I am happy to support both, were they put to a vote. Amendment 261 is consequential; on amendments 247 and 267, I do not feel I have enough information on what trustees think to make a reasonable judgment on whether either amendment would be a sensible way forward for trustees to meet their fiduciary duty, which is to provide the best guaranteed return for scheme members. I will step out of votes on amendments 247 or 267, but I will support the amendment that requires members to be consulted in advance.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I will speak specifically to amendments 260 and 265. Any communication with scheme members is a good thing, particularly if there are to be changes such as those we have been discussing. Sometimes, surplus extraction may not be for the benefit of scheme members; sometimes it may be for other reasons, and trustees have a duty to make clear what they think it is for and to release a surplus only if they think it is a reasonable thing to do. However, they may not have a full understanding of how members feel about what the surplus could be used for. For example, scheme members who are active members might feel that they would love their company to invest in something to make their lives and their jobs easier, and might be keener on that extraction than the trustees might think, so it would be great to have that input.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Member for Mid Leicestershire made the point very well that we should encourage people to take more interest in and have more input into their pensions, so that they have a better idea of what is going on, of the possibility of surpluses and of how they are spent. I would appreciate it if the Minister, when he is considering the regulations and the changes being made, could think about how best to consult scheme members. Given that trustees have a duty to act not in the best interests of members, but in the best interests of members’ pensions, I would love to see, around the surplus, arrangements that benefit scheme members—whether they are currently paying, future or deferred members, or those already getting their pensions—rather than solely the employer and the employer’s intentions. Ordered, That the debate be now adjourned.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Requiring them, or asking them, to consult members on what they would like, or to provide members with information about how money is going to be spent, could get better results for those members. It is not going to change the amount of pension they will get, which is the trustees’ requirement; however, it may change their lives in a more positive way. Whether or not they are people currently paying into the scheme and actively employed, there are ways that the surplus could be spent that would benefit or disbenefit their lives. In making that case, I think there should be a consultation with members. The hon.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Minister has said that trustees are required to act in the interests of and to the benefit of scheme members. However, they are required to act so that members will get the benefits that they are promised under the pension. They are not required to act to the benefit of scheme members. As I said earlier, there is a distinct possibility—particularly with surplus, which is not going into the pension scheme and which can only be paid if those benefits are already guaranteed—that the surplus is only a surplus in the case where members are definitely going to get those benefits anyway. It is the case that trustees might not know what is to the benefit of members.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“On pension sufficiency, as the hon. Member for Mid Leicestershire said, people being better informed and more engaged with their pensions is an incredibly positive thing, but we are not there yet. More needs to be done to encourage people down that route.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I would like the Government to put more money into it, and many more people getting the advice that they need. The guidance and targeted support mentioned on Tuesday are incredibly important, increasingly so as we see the trend away from DB schemes towards DC schemes. I was looking at my family’s personal pension the other day, and the amount of money in the DC pot. I do not have the faintest clue what it means. I know something about pensions, but being able to translate that large figure into a monthly amount is simply impossible until it is time to apply for the annuity, when we get the understanding of what our life circumstances look like. I would like changes to be made to the advice given. I do not think that we are in the right position. I wonder if the review will take some of this into account.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Successive Governments have believed that doing that would cause too much uptake and there would not be capacity to provide that service, but as we come to the generation of people who have been auto-enrolled hitting 50, when they are due that mid-life MOT, the benefits would be so great and would provide prospective pensioners with clarity about how much they could get. They could be told that taking the entire thing in cash and putting a chunk of it into a bank account is a truly terrible idea—we know that far too many people do that. I am in favour of anything that the Government can do to expand the free advice service that is there already, but I think that the funding vehicle proposed in amendment 3 is not the right way to go about it.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I would love to see people, when they are first auto-enrolled, getting advice on how much pension they are likely to get from whatever percentage of pay is put in, what a top-up looks like and how putting money into their pension as early as possible gives them the best possible outcomes in retirement, rather than panicking at the last possible moment to try to increase it. On the mid-life MOT, free advice is already available for people at the age of 50, but it is drastically under-utilised. The Government could move in the direction of ensuring that when people get their bowel cancer check pack through the post, they also get a date and a time for an appointment with the Pensions Advisory Service, so that they do not have to proactively make it themselves. That would make a massive difference.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My understanding is that those on DB pensions have a pretty clear idea of what they are getting on a weekly, monthly or annual basis, in addition to a lump sum that they may be awarded as part of that DB pension scheme. Using the surplus created in DB schemes to fund advice for DC scheme participants would not be in the best interests of the scheme members. I agree that we need more advice; I think that the proposal made in new clause 1 for earlier advice is incredibly important, because by the time someone gets to the age of 50-plus or very close to retirement, they do not have time to fix any issues.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am in massive agreement with putting more investment into the provision of advice. On Tuesday, we heard the terrible stats that only 9% of people actually get advice on their pension from a financial adviser. Yet this amendment is the wrong vehicle to achieve that, given that it is looking purely at DB surpluses. My understanding is that people who have DC pensions are much more likely to need advice than those who are on DB pensions, because that someone with a DC pension cannot tell how much they will get before they actually apply for the annuities when they retire. Their life circumstances may change between the age of 40 and hitting retirement.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Given that both amendments are asking for relatively small changes to ensure increased parliamentary scrutiny, particularly where the threshold drops below the buy-out level, I think that they are not unreasonable. I am happy to support them both.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Liberal Democrat and Conservative amendments are very different methods to achieve a similar outcome. Conservative amendment 258 is a bit wider, in the sense that it would require the affirmative procedure for a wider range of things, but both parties are concerned about the possibility of regulations allowing a surplus below the buy-out threshold level. I think the amendments are reasonable asks. I am generally in the habit of supporting more scrutiny of regulations; upgrading the requirements for regulations from the negative to the affirmative procedure is very much in my wheelhouse, given that it is so difficult for Parliament to oppose regulations made under the negative procedure unless the Leader of the Opposition puts their name to a motion praying against them. In practice, that very, very rarely happens.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The point is about the regulations on the surplus and the times at which schemes can pay it. It is not about looking at each individual scheme; it is about looking at the level that is set in the regulations. Much as I am sure that the Minister is having a lovely birthday, he would probably admit that he is not going to be the Pensions Minister in perpetuity. It is unlikely that he will still be the Pensions Minister in 50 years’ time. He may therefore not have control of these regulations. This is about putting guardrails in place so that, no matter who is in government, the level cannot be reduced below the full buy-out funding level.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“What a lot of them do have, following auto-enrolment, is pots of money invested in pensions, but they have very little ability to influence how that money is spent. Scheme trustees have a significant amount of ability to influence where money is invested, but scheme members do not, in the main, have that ability. If we asked people where they would like to see their pensions invested, many of them would pick things that might offer slightly less of a return but are significantly better for the planet. The aims in the amendments are admirable and I am happy to support them.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Member for Torbay said, they are not about forcing people to take decisions that are net zero in nature; they are about forcing them to consider the Paris agreement, or the regulatory targets for sewage discharges, when taking decisions. I do not think it is too much for us to ask trustees to be mindful of the impact on the planet of the decisions they are taking. The vast majority of people in my constituency do not have significant savings. If we look at the general population, we see that about 50% of people have less than 100 quid in savings. They have very little money and are not able to invest in renewables projects. They are not able to direct their money because they do not have any money to invest.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That is not necessarily about saying that GDP is not important; it is about saying that gross domestic wellbeing is important, and that sometimes we must take decisions that are slightly more expensive but will have a significantly less negative, or more positive, impact on the planet or the wellbeing of the population. When we think about a value for money framework, it is completely reasonable to talk about the Paris agreement. It is completely reasonable to ask about it in respect of any Government decision. I have written to the Chancellor in the past to ask for a carbon assessment to be published alongside the Budget—what is the impact on the Paris climate change agreement of the tax and spending decisions taken in the Budget, and how do they get us closer to our target? I am happy to support all the amendments. As the hon.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I would like more investment in renewable energy and insulation for houses.” They would say that those are some of their priorities. They would obviously still like a guaranteed return too, but it is completely reasonable, in terms of the value for money framework and the best interests of people out there, that we consider the Paris climate change agreement. Sewage is important too, but it is not quite the existential crisis that climate change is. A value for money framework must look at value for money in a wider sense. One of the things we have spoken about in Scotland a significant number of times is population wellbeing. The Scottish Government are finally members of the Wellbeing Economy Alliance.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Scientists tell us that too, so it is completely reasonable that we ask everybody involved with anything to consider the impact of their decision making on our net zero target and on climate change. We ask all sorts of organisations to consider environmental, social and governance impacts. This is another time to do that, because we are creating a value for money framework anyway. We want value for money, but we want the best value—value for future generations. There is no point in everybody having great pensions if they do not live to see them because the planet is not here for them. If we ask scheme members what they want, I think a significant number would say, “I would like more investment in things that make the planet a better place.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“They have tried to do that in Wales with the Future Generations Commissioner, who has the ability to judicially review decisions taken by public bodies in Wales. They can be called in for judicial review, and the Future Generations Commissioner can say, “This decision will cause a problem for future generations. It should be reviewed.” The Government are failing in their ambition to do the same thing in this Parliament. It is bizarre that I am about the only person in this place shouting about how great the Welsh Labour Government’s Future Generations Commissioner is—it is a really good idea. When people out there are asked what the major issues currently facing the world are, many—particularly younger people—say that climate change is the biggest crisis we face.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I think this is the place to do it. In fact, I think every place is the place to do it. When we debated the Advanced Research and Invention Agency Act 2022, for example, I proposed that the organisation should be created on a net zero basis. I have tabled many amendments to whatever Bill I have been faced with that have included trying to meet our Paris agreement targets. I have served on Bill Committees quite a lot in the past few years—something my party keeps putting me up to do, for some reason. The Paris agreement is the biggest issue. I have spoken already about how trustees are required to act in the interests of scheme members’ pensions rather than the interests of scheme members themselves. The Labour Government have tried to overcome that more generally, in terms of decision-making powers.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Will the hon. Gentleman clarify what “long term members outcomes” means? Does it mean people that have been members of the scheme for a long time, or does it mean members’ outcomes over the long term? The amendment is ambiguous.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The value for money regulations are really important, and it is important that they are got right. I am pleased that there is to be a consultation, but I push the Minister to agree that it will be significant—not just a couple of people in advance—so that potential problems with the value for money regulations are ironed out, and we do not see 273 amendments to them down the line.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I understand that they will go through the affirmative procedure when they do come before Parliament, but, in order to consult, will the Secretary of State publish the drafted regulations so that all of us can see them? Also, on the right people to consult, I would always recommend that the Secretary of State runs those regulations before the Select Committee in advance of publishing them, so that it can suggest any changes. It is far easier for the changes to be made in advance of the statutory instrument being laid, when it is in draft form, than for there to be an argument in a Delegated Legislation Committee—I am sure that nobody on either side of the House wants there to be arguments in a Delegated Legislation Committee. We would all, I am sure, hope that there would be widespread agreement in advance.”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I rise to speak to clause 10 and the consultations that the Secretary of State will undertake in advance of making the value for money regulations. Subsection (7) says: “The Secretary of State must consult with such persons as the Secretary of State considers appropriate before— (a) making value for money regulations; (b) issuing guidance under subsection (6).” I appreciate that that is in there—it should be in there, as it is important. However, I do not know the road map off the top of my head, although the Minister might. Will the value for money regulations be published in draft in advance of the final decisions being made?”
House of Commons4 September 2025Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗