Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the oral statement of 27 March 2018 on GKN: Proposed Takeover by Melrose, if he will take steps to ensure that the pensions commitment given to him by Melrose is legally enforceable post-offer undertaking; and what discussions he has had with Melrose on that commitment.

The Department for Business, Energy and Industrial Strategy has no statutory role in pensions. My right hon. Friend the Secretary of State however recognises their importance to GKN employees and has sought to facilitate discussions between the companies involved, the GKN pension scheme trustees and The Pensions Regulator.

Melrose has reached an agreement with GKN’s pension scheme trustees. This agreement is not a post-offer undertaking under the Takeover Code and its fulfilment is a matter for the pension trustees and The Pensions Regulator.