My hon. Friend's analysis is right. We have already heard that the value of savings has doubled. The value of income has gone up by 31 per cent. Savings take many forms and the rapid growth in occupational pensions and in the greater provision that pensioners can make for themselves allows them to retire. That is why there are now more retirements at an earlier age and less pressure on people to continue to work, than under the Labour Government of the 1970s.