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  1. ITV Report

Nick Clegg: Pensions could boost home ownership

Parents and grandparents will be allowed to use their pension pots to secure deposits for young family members to boost home ownership, Nick Clegg has said.

The Sheffield Hallam MP said detailed proposals were being drawn up by Liberal Democrat ministers as part of efforts to make the economy "fairer".

But he also declined to commit to pushing for any specific wealth tax despite promising activists at the Lib Dem party conference in Brighton that he would play hardball with the Tories on the issue.

As we fill in the black hole in the public finances we have to also got to make sure that we do not put Humpty Dumpty back together again and make the same mistakes, that we re-wire the British economy and make it fairer and give people more opportunities.

– Nick Clegg MP, speaking on BBC1's Andrew Marr Show

Pensions are designed to mature into a decent retirement income, not for other purposes. Any scheme which uses pensions as a guarantee must ensure that it does not inadvertently make the saver worse off when they retire.

– Otto Thoresen, Association of British Insurers

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