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‘A Response to Mark Prisk’s Address to Politeia’, by Charles Cowling

A Response to Mark Prisk’s Address to Politeia

Charles Cowling

Monday 28th February 2012: By Charles Cowling, Politeia Author

It was heartening to hear Mark Prisk’s comments on the Government’s commitment to reducing the burden of excessive legislation. At a time when UK business is under huge pressure from financial crises all around, Government needs to help UK plc drive much needed growth into our economy. Removing unnecessary legislation and streamlining voluminous regulations must be applauded.

The “one in; one out” principle whereby a Government Department can only introduce new legislation if it commits to removing old legislation is a great step forward (maybe it should be “one in; two out”). Let’s hope, though, that someone has explained this principle to the DWP, whose appetite for ever more pensions legislation seems unlimited. Their latest proposals on GMP equalisation being a classic case in point: completely unworkable, hugely burdensome and quite unnecessary.

*Charles Cowling is author of the Politeia pamphlet Pension Reckoning – Paying for Private and Public Pensions.

*Mark Prisk MP, Minister of State for Business and Enterprise, gave the opening address of Politeia’s Recession or Recovery series on Monday 27th February.

Charles Cowling

Charles Cowling is Chief Actuary at Mercer, a Council Member of the Institute of Actuaries since 2018 and an Executive Committee member of the International Actuarial Association since 2018. He was Managing Director of JLT Pension Capital Strategies between 2006 and 2020. For Politeia he was author of Pension Reckoning: Paying for Private and Public Pensions (2010).

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