Pensions: Deepwater Horizon Debate
Full Debate: Read Full DebateLord Soley
Main Page: Lord Soley (Labour - Life peer)Department Debates - View all Lord Soley's debates with the Department for Work and Pensions
(14 years, 4 months ago)
Lords ChamberMy Lords, whether to pay a dividend is a decision for BP, which is due to make that decision on 27 July at the appropriate board meeting. Anyone who reads the press will know that the company is coming under enormous pressure in the US not to pay a dividend. Indeed, the political pressure may be greater than the financial pressure, because BP is financially soundly based at this juncture.
Are the Government talking to BP about this, bearing in mind the very real pressures on the company in the United States that could put it under even more pressure? Is not BP in need of help and support from the British Government? Is it being given that?
My Lords, I understand that the Government are in touch with both the US Administration and BP senior management on a regular basis. Clearly, BP is a private company and one would not want to make public any discussions in that area, whether they were or were not happening.