Carillion

Kevin Foster Excerpts

Monday 15th January 2018 Commons Chamber

[Mr Speaker]

Order. This is an extremely important matter, and it is hardly surprising that it has evoked intense interest in the House. As per usual, I am keen to accommodate the totality of the interest if possible, but if I am to have any prospect of doing so without jeopardising the time available for the Second Reading debate, may I advise Members—in respect of both questions and answers—that the abridged rather than the “War and Peace” version is to be preferred?

[Kevin Foster (Torbay) (Con)]

I will bear that in mind, Mr Speaker. I thank my right hon. Friend for his reassurances, and it is right that this discussion should focus on workers and services, but I am concerned about pensioners. What reassurance can he give existing pensioners about their continuing to receive their payments, as planned?

[Mr Lidington]

The Insolvency Service or the official receiver will have to look at each of the 14 pension schemes forming part of the Carillion Group and assess their solvency and that of the companies with which they are associated. The backstop in all this is that the Pension Protection Fund will guarantee that pensions now in payment will continue to be paid at 100% of their value.