Retail Sector: Unemployment

Lord Faulkner of Worcester Excerpts

Wednesday 27th January 2021 Lords Chamber

[Lord Callanan (Con)]

I enjoyed debating the moratorium with my noble friend—an area in which he has considerable expertise. The moratorium that was introduced is designed to help companies that are financially distressed, and I was very grateful for his recognition of and support for it during the passage of the Corporate Insolvency and Governance Bill. I assure him that the rules for the monitor of the moratorium, who must of course be a licensed insolvency practitioner, will not in any way impede the monitor seeking advice from other restructuring professionals and finding an alternative source of rescue.

[The Deputy Speaker (Lord Faulkner of Worcester) (Lab)]

The noble Lord, Lord Field of Birkenhead, is not available, so I call the noble Baroness, Lady Goudie.

[Baroness Goudie (Lab) [V]]

My Lords, high-street retailers, their customers and their staff should not be prejudiced by unfair online competition, which is contrary to the public interest. To an extent, the supply chains of online retailers rely on the victims of human trafficking, modern slavery, appalling working conditions and exploitation through low pay. These issues are notoriously prominent among a number of the bigger names in online shopping. This is a scandal that must be stopped.

--- Later in debate ---

[Lord Callanan (Con)]

My noble friend makes a very good point. I appreciate that these will be concerning times for members of these pension schemes, but there are measures in place for these situations. We will ensure that we do everything we can to provide support for those who potentially will be impacted. The Pensions Regulator is working closely with both the company and the scheme to ensure that all prior commitments entered into are fulfilled.

[The Deputy Speaker (Lord Faulkner of Worcester) (Lab)]

My Lords, all supplementary questions from Members available to ask their questions have been asked.