David Davis
Main Page: David Davis (Conservative - Haltemprice and Howden)
Anna Soubry
As I have said, I will not refer to any individuals. The Pensions Regulator is—quite properly—conducting an investigation into the BHS pension scheme, and there are other investigations. I have made it clear that I and everyone in government take such misconduct, where there is such misconduct, extremely seriously, and if the investigations find the sort of misconduct that should lead to a police inquiry, so be it—let the full process take place—and if anybody needs to be brought to criminal justice, that must be right. As the House knows, I am a one nation Conservative. I support capitalism but not unfettered capitalism without compassion and care, and that extends to anybody working for any business in our country.
Mr David Davis (Haltemprice and Howden) (Con)
I think the Minister said that any wrongdoing would be dealt with, but the problem is that much of this was, I suspect, legal. That places a moral responsibility on every Government over the last few decades who have allowed such action to be legal. The actions of Philip Green, his family and his companies, in taking out more than £500 million in dividends from a company that cost them £200 million, can be described as little else than asset stripping. What matters now, however, is that those employees dependent on the pension scheme are set to lose 10% of their pensions, if the scheme goes into the Pension Protection Fund. Many Government Members think that the minimum that needs to happen is for Philip Green to pay back enough to save them from that.
Anna Soubry
As I said, I will not name any individual. Investigations are being conducted—quite properly—so before we rush to judgment in this place or anywhere else, let us wait for those full investigations to conclude. Then we can see if we need to take matters forward.