Tories press for an end to grace and favour pensions
Share
Conservative Shadow leader of the House of Commons Sir George Young is writing to Lord Chancellor Jack Straw demanding legislation to prevent future Prime Ministers and Lord Chancellors from taking grace and favour pensions is enacted as soon as possible.
The move follows last week’s revelations in Money Marketing that the Government had yet to pass legislation to prevent future holders of the roles from receiving the benefits despite pledging to do so within a year back in January 2008.
Young says: “The senior salaries review body said three years ago there should no longer be a special grace and favour pension for Prime Ministers and Lord Chancellors.” He says the Government failed to legislate accordingly during the passage of the recent Constitutional Reform and Governance Bill, which included a section on MPs’ and ministerial pensions.
He says: “I will be writing to Jack Straw to enquire about progress and to seek his assurance that legislation should be enacted when the bill goes through the House of Lords.”
Last week, Money Marketing revealed Brown and Straw had failed to switch back into the Parliamentary pension fund despite announcing they would forgo their grace and favour arrangements in January 2008.
A Downing Street spokesman told Money Marketing last week that legislation would be taken forward “as soon as Parliamentary time allows” and that their voluntary arrangement means Brown and Straw will not benefit regardless of the legislation.
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
