boom-bust, stop-go of the past has been reinforced by social security
secretary Alistair Darling.
Mr Darling was speaking at the Association of Private Client
He then went on to stress the importance of a partnership between the
public and private sector. Mr Darling said:
'The government wants to encourage more savings and personal pension
provision. Partnership between public and private sectors is
essential to achieving this objective.
'For there to be a successful partnership people must have confidence
in the financial services industry.
'It's in the interests of everyone that the industry does everything
it can to clear up the pensions mis-selling problem without delay.
'The government wants to encourage individuals to save and invest.
We are playing our part - reforming the regulatory system to make it
more effective, launching new Individual Savings Accounts, and, in
the autumn, publishing the Green Paper on pensions.
'But that has got to be matched by a commitment from the industry to
re-build its image and to confront problems without delay'.