Oral Answers to Questions Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Rachel Maclean
Main Page: Rachel Maclean (Conservative - Redditch)Department Debates - View all Rachel Maclean's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Andrew Griffiths
The hon. Gentleman will understand that issues in relation to pension schemes are a matter for the independent Pensions Regulator. However, the Pensions Regulator has been in contact with Carillion and the pension scheme trustees for a number of years about the funding of the pension scheme. I can absolutely assure the hon. Gentleman that the work of the taskforce is to look at what happened in relation to the Carillion insolvency, and to ensure that if lessons are to be learned, we will learn them.
Rachel Maclean (Redditch) (Con)
The global headquarters of GKN is in my Redditch constituency. It employs 200 people, and concerns have been raised about the pension scheme there as well. The Pensions Regulator is warning that in the event of a takeover, there may be something to look at. What lessons is the Minister learning from Carillion in this case, and what further action does he need to take?
Andrew Griffiths
The Secretary of State, I think, has already outlined the approach with which the Government are handling the takeover of GKN, but I can assure my hon. Friend that the implications of business actions, and particularly takeovers, in relation to pension schemes are a priority for the Government. We will continue to proceed with care and caution to protect the interests of all members of pension schemes.