Webb: Don't remember me as the Lamborghini pensions minister

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.

But the minister is adamant he did not want his legacy to revolve around the "flippant" Lamborghini statement he made when concerns about the Budget flexibilities emerged. Webb is also confident a Labour government would retain ‘freedom and choice' in spite of criticism of the policy, because it is popular. 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...