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Government committed to 1 per cent

The Government is committed to the 1 per cent price cap for the new stakeholder products, according to Treasury financial secretary Ruth Kelly, and it would take a very convincing argument to change its mind.

Kelly told delegates at the Treasury sponsored seminar on Sandler today in London that until further details about the products and how they will be distributed are known any debate over the price cap is an academic one.

She said: “There will be a very high persuasion threshold over any change to the price cap.”

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