John Baron
Main Page: John Baron (Conservative - Basildon and Billericay)
Anna Soubry
As I said, our thoughts are with the workforce. It is important to point out, however, that the stores are still open and people still in work—they have not lost their jobs—so we must not talk down the business. We want somebody to come forward and buy the company and to make sure it has a good, sustainable future. That is where my thoughts are at the moment. We want to help in any way we can to make sure a buyer comes forward. I pay tribute to the excellent workers at BHS not just in the stores but—not forgetting—in the various distribution centres around the country. I also have to say, however, that we are the Government who delivered 2.5 million new jobs in just five years.
Mr John Baron (Basildon and Billericay) (Con)
Tens of thousands of BHS pensioners are set to suffer from this news, so I ask that the Government do what they can to ensure answers to the following questions: how did a £5 million pension fund in 2001 turn into a deficit of £571 million and was there any wrongdoing? If so, will they ensure that those responsible are brought properly to book?
Anna Soubry
As I said, the Pensions Regulator is looking at the many concerns that hon. Members on both sides of the House are raising, and the PPF is now involved. My hon. Friend makes important points. Unfortunately, some companies find themselves with very large pension fund deficits, which should concern us all.