Tom Blenkinsop
Main Page: Tom Blenkinsop (Labour - Middlesbrough South and East Cleveland)
Sajid Javid
Tariffs do have a role to play where there is evidence of unfair trade. The good news is that, where that evidence has come up, we have worked with our colleagues in the EU—and my hon. Friend’s colleagues in the EU—and been able to take action. In almost every case where a tariff has been introduced, it has resulted in a fall in Chinese imports of almost 90%. That shows us that the process is effective.
Tom Blenkinsop (Middlesbrough South and East Cleveland) (Lab)
My father-in-law is a British Steel pensioner. What does the Secretary of State believe will happen regarding the recent deals with Liberty and Greybull if the British Steel pension has to be absorbed into the Pension Protection Fund? Will he also remind the House how much money the Treasury has already made as a result of the state taking over the miners pension fund and receiving half the surpluses every year?
Sajid Javid
If this pension fund ended up in the PPF, the outcome would be different depending on the particular circumstances of this group of members. Where those members are existing pensioners—so they are receiving their pension already—they would typically continue to get 100% of their pension, but the indexation would change to the statutory minima, which is typically CPI.