P&O Ferries

Lord Sterling of Plaistow Excerpts

Wednesday 23rd March 2022 Lords Chamber

[Baroness Bloomfield of Hinton Waldrist (Con)]

We are taking a number of steps. We are engaged with the Insolvency Service regarding the steps P&O Ferries took in this whole restructuring and redundancy exercise. The £15 million received by P&O was part of the furlough scheme and therefore to the benefit of the employees rather than the company. I know that P&O will still be accountable for the deficit in the pension contribution to the Merchant Navy Ratings Pension Fund. The Government are working very hard in a fast-moving situation to get answers to all those questions and to take the appropriate action.

[Lord Sterling of Plaistow (Con)]

My Lords, I apologise that I was not here yesterday: my wife had a very bad fall and fractured her head, so we spent two days in the hospital, but I wanted to be here today. I hope noble Lords will bear with me.

The most important thing for everybody in this House —or any house, individuals or otherwise—is your reputation. I am today wearing the tie of the Peninsular and Oriental Steam Navigation Company, which goes back nearly 200 years. My predecessor served at the Battle of Trafalgar and, as a matter of interest, my noble friend Lord Lamont is a direct descendant of the first chairman, who was in the Shetland Islands.

What I want to say is this—

[Earl Howe (Con)]

My Lords, I do not want to be ungracious to my noble friend, but if he could reach his question, that would be helpful.

[Lord Sterling of Plaistow (Con)]

I will issue a statement separately from this, but I wanted to ask this. People from all over the world are deeply upset and concerned about the reputation of a company that has been one of the greatest companies, and of which I have had the honour to be a part for nearly 40-odd years. I stood down in 2005—

[Noble Lords]

Statement!

[Lord Sterling of Plaistow (Con)]

No, I have to say this, because it is very important. Dubai has had the company for 16 years. Does the Minister agree that the way Dubai has handled this is totally unforgivable to its reputation but, most of all, for all those who serve this country?

[Baroness Bloomfield of Hinton Waldrist (Con)]

I thank the noble Lord for reminding the House of his career in P&O, which was one of my first clients in the 1980s, when I joined the shipping department of Bank of America, and I remember him well. The Government are absolutely shocked by the actions of P&O Ferries, and we must make the point here that there is no relationship between P&O Ferries and P&O Cruises, which are entirely separate organisations. We are shocked by its actions over the past week. We have been angered by the lack of empathy and consideration that P&O Ferries has demonstrated towards its employees. The way that these workers were informed was completely unacceptable, especially as P&O Ferries received millions of pounds of British taxpayers’ support through furlough.