Jo Stevens
Main Page: Jo Stevens (Labour - Cardiff East)
Sajid Javid
Business rates are an important component of costs for many industries. The Government have already taken action. In the last Budget, we announced that business rates would be indexed to CPI rather than RPI; by 2020, that will save business £370 million. Regarding steel, there are specific proposals. While we do keep these things under review, we are also very much focused on many other ways in which we can help the industry.
Jo Stevens (Cardiff Central) (Lab)
Has the Secretary of State or the scheme trustees had any preliminary discussions with the Pensions Regulator about this potentially very risky and precedent-setting proposal?
Sajid Javid
Yes I have, as have the Secretary of State for Work and other Ministers. That underlines the fact that if any of the proposals in this consultation went ahead, it would require the full support of the Pensions Regulator.