Oral Answers to Questions

Debate between Martin Docherty-Hughes and Anna Soubry

Tuesday 28th June 2016 Commons Chamber

[Martin Docherty-Hughes (West Dunbartonshire) (SNP)]

4. What assessment he has made of the effect of the case of BHS on his policy on regulating insolvency.

[The Minister for Small Business, Industry and Enterprise (Anna Soubry)]

As the hon. Gentleman knows, the Insolvency Service’s investigation into BHS continues. We are always looking to ensure that Britain is an open place in which to do business, but with the proper regulation in place to protect workers and prevent abuses. We recently launched our consultation “A Review of the Corporate Insolvency Framework”—not something that trips off the tongue. Importantly, if there are any early emerging findings arising out of the BHS case, I can assure him that they will be fully taken into account.

[Martin Docherty-Hughes]

I am grateful to the Minister for her response. Nevertheless, I am sure that Members of the House and people across the country were dismayed yesterday when they read that the pensions black hole in this country has reached a high of £900 billion. Can she assure this House, me and my constituents who work at BHS in Clydebank that, after reflecting on last week’s vote and the BHS scandal, the Government are doing everything in their power to assure their pension funds?

[Anna Soubry]

The hon. Gentleman makes a good point. Yesterday was a dreadful day on the markets— two of our banks actually had to stop trading. Today, according to the results, is a better day. As the Prime Minister said yesterday, nothing has changed at the moment, so it is really important that we talk up our great country and our great economy, and that we instil confidence and stability on all sides.

BHS

Debate between Martin Docherty-Hughes and Anna Soubry

Monday 25th April 2016 Commons Chamber

[Anna Soubry]

I do not think that the hon. Lady asked me a question, but it does not really matter. I shall be happy to find out what happened to the report, and write to her about it.

[Martin Docherty-Hughes (West Dunbartonshire) (SNP)]

Let me first express the concern that I feel for my own constituents who face the possibility of redundancy, having been on the frontline of retailing for 36 years in the branch of British Home Stores in Clydebank. The Minister mentioned future technologies. Thirty-six years ago, BHS, as a retailer, was the future, and I should like us to have a debate about that in the House. The real scandal, however, is the fact that my constituents face not only the possibility of redundancy, but a 10% reduction in their pensions when they reach pensionable age. Can the Minister assure me, my constituents and the House that when the regulator carries out an investigation, it will be open and transparent, and that if there is guilt to be apportioned, it will be apportioned and will be subject to the full force of the law?

[Anna Soubry]

The short answer to that question is yes. As for the other matter that the hon. Gentleman raised, at one stage BHS really was the future. I will not, at this point, give my own views on the history of BHS and the lessons to be learned from it. As I have said, I want to be positive, to think about the work force and to look for a buyer. However, the hon. Gentleman is right to say that there is a debate to be had about the changing nature of the way in which we shop, and the changing nature of retail.