Speeches by Garnier.

“Q Would you suggest a higher hurdle for valuations in terms of surplus distribution? Robert McInroy: That has been discussed on a fund-by-fund basis—whether the funding target should be increased from something like 100% to 120%, for example. That has been actively discussed.”

“Q That is very helpful. Robert, would you like to add anything? Robert McInroy: Yes, on the last point about surpluses. I am a fund actuary. We are working through the 2025 valuations, and it is pleasing to see improvements in funding levels across the LGPS. We think that that, in turn, can mean lower contribution rate…”

“Q There is potential for surpluses to be paid back into the community. Is that not a good alternative for that type of more social investment as opposed to non-commercial investments? Councillor Phillips: We anticipate that the latest round of valuations will show a very good surplus for all the pensions. That is credi…”

“Q So the key point is that every single investment must be done on a benefit analysis rather than a social good analysis? Councillor Phillips: If you do not do that, I do not know where you are going with your pension investment.”

“Q It is difficult. You raised the point about geographical location and that a mayoral authority could have three different funds within it. More important, Cornwall county council, for example, may suddenly discover it is having to invest into Northumbria because that is where somebody decides it needs to invest, and …”

“Thanks to our Conservative winter fuel payments campaign, thousands of pensioners have signed up to pension credit, and millions more pensioners will receive winter fuel allowance, now that the Labour party has admitted that its policy on winter fuel payments was wrong. However, the Social Security Advisory Committee r…”

“Thank goodness I was called to speak after all. I congratulate the hon. Member for Cumbernauld and Kirkintilloch (Katrina Murray) on securing this debate. It has been fascinating to listen to all the great words used to describe credit unions. We have heard them described as lifeline services, community builders and fi…”

“I am very grateful to the Minister for advance sight of her statement. There is much in these Leeds reforms—many of which were formerly known as the Edinburgh reforms—that can be welcomed, and some of the details were laid out by the Chancellor in her Mansion House speech last night. The Conservatives will always suppo…”

“It is always a great pleasure to serve under you, Mr Twigg, and I apologise for nearly knocking you over on my bicycle first thing this morning.”

“The former City Minister raises a good and important point. He tries to bring together a number of related but quite disparate issues that we need to think carefully about. I would not want to make Conservative party policy on the hoof at the Dispatch Box, though the Minister urges me to do so. These are important poin…”

“It is a great pleasure to be here with you, Madam Deputy Speaker, and I welcome the Minister to his place. He has been here a couple of days over a year and is already taking an important Bill through Parliament. It is good to see him, and I very much look forward to working constructively with him as the Bill progress…”

“The hon. Member makes an important point. The earlier people start putting money in, the better. As a result of compound interest, over many years they will end up with a bigger pension pot, even if at the beginning the contribution is quite small; the amount aggregates over a long period. We will discuss that in Commi…”

“It is an important question, and one that I will come to in due course. Watch this space for a fascinating manifesto in the run-up to the next general election—I am sure everybody looks forward to it.”

“I draw Members’ attention to my entry in the Register of Members’ Financial Interests. I speak on this Bill as the chair of the all-party parliamentary group for space. I congratulate the hon. Member for Glasgow East (John Grady) on having such a massive effect on the UK space industry by changing just two words in the…”

“Thank you very much, Mr Blackman. It is a great pleasure to be here for, I think, the first time in 15 years. The proposal of the debate is to explore the scourge of rogue builders that is blighting many people’s lives. I have been working on it for a number of years, since I was a victim of a rogue builder myself. Whe…”

“Yes. I think Matthew Pennycook is the Minister responsible.”

“In her Budget last year, the Chancellor tucked away about £10 billion over the next couple of years from reform to the non-dom tax regime. It is important to remember that the OBR said in its fiscal outlook that that figure was “highly uncertain”, and a high-level survey by Oxford Economics found that fully two thirds …”

“That rather depends on one’s point of view. I think it was fortunate for everyone in this room apart from Conservative Members. Moving on, we are absolutely supportive of bringing these products within the scope of financial regulation. As we have heard, the sector has seen rapid growth. Because the products are now us…”

“It is an absolute joy to serve under your very professional and diligent leadership and chairmanship of this Committee, Mr Stuart. I also congratulate the Minister on his debut in a Delegated Legislation Committee. He does it masterfully. These buy now, pay later measures, as colleagues will recall and as pointed out b…”

“It is a great pleasure to serve under your talented leadership, Sir Desmond. It is very good to be here. I also congratulate my hon. Friend the Member for South West Hertfordshire (Mr Mohindra). This may be his debut debate in Westminster Hall, but I am sure that it is the first of many. He has always been a champion f…”