Steve Webb believes his most notable achievement in five years as pensions minister has been the state pension reforms but fears his infamous Lamborghini comment could be his legacy.
The minister said he hoped he would not be remembered for his "flippant" Lamborghini comment made shortly after the Budget flexibilities were announced. He also said it was likely a future Labour government would retain the pensions freedom and choice policy because of its popularity. Speaking at the LCP defined contribution conference last week, Webb said the state pension changes would not have happened without him. The reforms will see the current basic and additional state pension replaced by a single-tier flat rate pension from April 2016 in an effort to simplify the system...
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