Following a six hour session with Sir Philip Green, Chairman of Arcadia Group, the Chairs of Work and Pensions and Business, Innovation and Skills Committees express their satisfaction over 'a better deal for BHS pensioners' and draw attention to further questions that need answering.
Commenting on Sir Philip Green’s evidence in Parliament today, Iain Wright MP, Chair of the Business, Innovation and Skills Committee, and Rt Hon Frank Field MP, Chair of the Work and Pensions Committee, said:
"We thank Sir Philip for giving us six hours of evidence in Parliament today, and we were pleased to hear that he is still trying to put together a better deal for the BHS pensioners. We hope he will come up with an offer that is satisfactory to The Pension Regulator. However, he doesn’t only have to satisfy The Pensions Regulator, today he is before the bar of public opinion. Much of his reputation now depends on how generously he responds.
Today’s evidence raised host of further questions and we first want to get much more detail on the structure of various companies, particularly those owned by Lady Cristina Green, the profits they have made and the tax they have paid.
We have more witnesses scheduled at the end of June and in the last few days we have received a huge amount of further evidence. We have many further questions for Sir Philip, particularly the big questions on the pension fund that he was unable to answer today."
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