George Kerevan
Main Page: George Kerevan (Scottish National Party - East Lothian)
Sajid Javid
I am very positive, and I think that if all of us—the Government, the unions, Tata, the Welsh Government and others—work together, we can have a successful conclusion. Of course, my hon. Friend is right to think about the possibility that, even then, we could have some job losses. In such cases, we will do everything we can, first, to regenerate the area, but also to make sure that where there are skills shortages in nearby areas—certainly those within travelling distance—we can be clever and bring the two issues together.
George Kerevan (East Lothian) (SNP)
May I press the Minister further on pensions, particularly the legacy pensions paid under the British Steel pension scheme? If companies taking over Tata assets are unwilling—wholly or in part—to take over the existing funding of the pensions, or if Tata’s main board in India is unwilling, as seems likely, to maintain the fund at its necessary strength, will the Government step in? If that is precluded under current EU rules, will they upfund the national Pension Protection Fund to ensure that it can step in?
Sajid Javid
We are looking at options and potential solutions around pensions if there is a buyer that, as I think is likely, does not want to take on some of the legacy costs. I can tell the hon. Gentleman that I do not think EU rules are an issue here. There are other challenges, of course, but we are looking creatively at solutions. I would not want to say too much about that now, but I want to reassure him that this issue is front-of-mind as we deal with this challenge.