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You can find the current article at its original source at https://www.theguardian.com/politics/live/2016/jun/15/sir-philip-green-questioned-by-mps-over-bhs-collapse-live-updates
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| Version 11 | Version 12 |
|---|---|
| Sir Philip Green rejects 'unfair' criticism over BHS collapse - live updates | |
| (35 minutes later) | |
| 3.23pm BST | |
| 15:23 | |
| The pension regulator has swiftly responded to Green’s evidence. | |
| In a statement, it denies refusing to engage with Sir Philip Green. | |
| It also states that it hasn’t received any “new proposals”. | |
| pensions regulator again issues denial that it has refused to engage w Green on BHS pension restructuring pic.twitter.com/7nyhvQdvR3 | |
| 3.12pm BST | |
| 15:12 | |
| And finally, as Big Ben rings 3pm, Green repeats his pledge to sit down with the pensions regulator and talk about the pension scheme. | |
| I want to get this over quicker than you do, he pledges. And he promises to do all he can to support any deal to save BHS. | |
| And that is finally the end of the meeting, after a near six-hour marathon. | |
| 3.07pm BST | 3.07pm BST |
| 15:07 | 15:07 |
| Green blasts "envy and jealousy" over tax set-up | Green blasts "envy and jealousy" over tax set-up |
| Q: With hindsight, do you think the offshore setup of your businesses is incompatible with the modern world? | Q: With hindsight, do you think the offshore setup of your businesses is incompatible with the modern world? |
| Green checks his pad for a prepared statement, and then pronounces | Green checks his pad for a prepared statement, and then pronounces |
| Envy and jealousy are two incurable diseases. I have done nothing wrong. | Envy and jealousy are two incurable diseases. I have done nothing wrong. |
| Green insists that his empire could have been structured much more aggressively to avoid tax. | Green insists that his empire could have been structured much more aggressively to avoid tax. |
| We have paid many, many hundreds of millions of pounds of tax. As far I am concerned I have a very clear conscience. We have paid everything due. | We have paid many, many hundreds of millions of pounds of tax. As far I am concerned I have a very clear conscience. We have paid everything due. |
| Green suggests that he could, for example, have taken his fashion brands offshore and charged a royalty. | Green suggests that he could, for example, have taken his fashion brands offshore and charged a royalty. |
| Where we made money here, we paid tax here. | Where we made money here, we paid tax here. |
| Envy + jealously are 2 incurable diseases, Green says. "I've done nothing wrong" on tax. "These structures could have been more aggressive" | Envy + jealously are 2 incurable diseases, Green says. "I've done nothing wrong" on tax. "These structures could have been more aggressive" |
| 3.01pm BST | 3.01pm BST |
| 15:01 | 15:01 |
| Green: Criticism has been unbalanced and unfair | Green: Criticism has been unbalanced and unfair |
| Q: What lessons can we learn from the BHS failure, to help rebuild the public’s trust in the capitalist system? | Q: What lessons can we learn from the BHS failure, to help rebuild the public’s trust in the capitalist system? |
| Green say’s he’s immune to criticism after the last few weeks, which have meant he’s been unable to visit his stores. | Green say’s he’s immune to criticism after the last few weeks, which have meant he’s been unable to visit his stores. |
| Q: Do you feel hounded? | Q: Do you feel hounded? |
| The criticism has been wholly unbalanced and unfair, Green says, a little mournfully. | |
| I made a bad call selling this business to RAL [Chappell’s Retail Acquisitions], Green says. But other people made mistakes too, including lawyers, and now everyone says it’s just my fault. | I made a bad call selling this business to RAL [Chappell’s Retail Acquisitions], Green says. But other people made mistakes too, including lawyers, and now everyone says it’s just my fault. |
| I’m a big boy, I can take a punch on the chin.... but I didn’t do this deliberately, he concludes. | I’m a big boy, I can take a punch on the chin.... but I didn’t do this deliberately, he concludes. |
| "I made a bad call in selling this business to [Chappell]" he says. "I picked the wrong guy. I didn't do it intentionally." | "I made a bad call in selling this business to [Chappell]" he says. "I picked the wrong guy. I didn't do it intentionally." |
| Updated | |
| at 3.16pm BST | |
| 2.57pm BST | 2.57pm BST |
| 14:57 | 14:57 |
| Q: Do you think your reputation has been improved by today’s session? | Q: Do you think your reputation has been improved by today’s session? |
| Green declines to mark his own homework, but hopes that people understand what happened at BHS. | Green declines to mark his own homework, but hopes that people understand what happened at BHS. |
| I’ve had quite a few supportive emails and texts from BHS staff, he adds. | I’ve had quite a few supportive emails and texts from BHS staff, he adds. |
| Q: What would you like your legacy to be, in a year’s time? | Q: What would you like your legacy to be, in a year’s time? |
| Green looks baffled, saying even he’s not clever enough to undo the past. | Green looks baffled, saying even he’s not clever enough to undo the past. |
| Then he talks about the work that Arcadia does in the fashion industry, encouraging young talent. | Then he talks about the work that Arcadia does in the fashion industry, encouraging young talent. |
| “All people in BHS know I’m honest and no way I would have wanted this kind of ending.” | “All people in BHS know I’m honest and no way I would have wanted this kind of ending.” |
| In other words, he’s not a bad guy, honest... | In other words, he’s not a bad guy, honest... |
| 2.54pm BST | 2.54pm BST |
| 14:54 | 14:54 |
| Q: Would you consider buying BHS back if you could get the pension issue sorted? | Q: Would you consider buying BHS back if you could get the pension issue sorted? |
| No, Green insists. Life has moved on. | No, Green insists. Life has moved on. |
| Not for the 11,000 staff at BHS, the committee point out. | Not for the 11,000 staff at BHS, the committee point out. |
| Q: So who are the winners from the BHS story? | Q: So who are the winners from the BHS story? |
| No-one, Green says, adding. | No-one, Green says, adding. |
| I think it was a very sad episode. Everything that could have gone wrong, did go wrong. | I think it was a very sad episode. Everything that could have gone wrong, did go wrong. |
| Q: So who are the losers? | Q: So who are the losers? |
| That’s easy, Green says. The staff and the pensioners. | That’s easy, Green says. The staff and the pensioners. |
| 2.51pm BST | 2.51pm BST |
| 14:51 | 14:51 |
| Green demands apology over "ego" jibe | Green demands apology over "ego" jibe |
| Green then confirms that he attended a meeting with Mike Ashley and the administrators on 27 April, at Arcadia’s offices. | |
| He produces a letter from the administrator saying Arcadia offered to add £5m to Sports Direct’s bid for BHS and did not frustrate the deal. | He produces a letter from the administrator saying Arcadia offered to add £5m to Sports Direct’s bid for BHS and did not frustrate the deal. |
| Q: So why did it fail? | Q: So why did it fail? |
| Because of one of these, says Green, producing his chequebook. | Because of one of these, says Green, producing his chequebook. |
| And he denies that he did anything to block Mike Ashley from taking control | And he denies that he did anything to block Mike Ashley from taking control |
| On what possible basis would I want to stop someone buying BHS? | On what possible basis would I want to stop someone buying BHS? |
| “Ego”, says Iain Wright. | “Ego”, says Iain Wright. |
| Green looks *furious*. “That’s really rude,” he says, and out of order. He says Wright should apologise. | Green looks *furious*. “That’s really rude,” he says, and out of order. He says Wright should apologise. |
| Green starts to assembles his papers, muttering that he’s glad the meeting is over. | Green starts to assembles his papers, muttering that he’s glad the meeting is over. |
| But it’s not over quite yet | But it’s not over quite yet |
| Updated | Updated |
| at 3.16pm BST | |
| 2.47pm BST | 2.47pm BST |
| 14:47 | 14:47 |
| The session turns rowdy, now, as Iain Wright probes Sports Direct’s attempts to rescue BHS. | The session turns rowdy, now, as Iain Wright probes Sports Direct’s attempts to rescue BHS. |
| He gets Philip Green to confirm that he didn’t know Mike Ashley (Sports Direct’s founder) was trying to sort out a deal. | He gets Philip Green to confirm that he didn’t know Mike Ashley (Sports Direct’s founder) was trying to sort out a deal. |
| And Wright then produces a letter from Ashley, which states that the two men did have contact. | And Wright then produces a letter from Ashley, which states that the two men did have contact. |
| Green tries to interrupt, telling Wright to stop bullying him (!) and claiming that he’s in charge of what he says. | Green tries to interrupt, telling Wright to stop bullying him (!) and claiming that he’s in charge of what he says. |
| Wright and Green tussle for control of the meeting. "You are not in charge" says Wright "Don't bully me let me answer you says Green" | Wright and Green tussle for control of the meeting. "You are not in charge" says Wright "Don't bully me let me answer you says Green" |
| Green then explains that he didn’t know that Chappell held all-night talks on Thursday 21 April, until the Friday lunchtime Chappell asked Green for Ashley’s phone number. | Green then explains that he didn’t know that Chappell held all-night talks on Thursday 21 April, until the Friday lunchtime Chappell asked Green for Ashley’s phone number. |
| He reveals that he then had a jokey conversation with Ashley, but insists that he has zero knowledge about the negotiations. | He reveals that he then had a jokey conversation with Ashley, but insists that he has zero knowledge about the negotiations. |
| Q: So how much contact did you have over the weekend? | Q: So how much contact did you have over the weekend? |
| We may have spoken a few times, Green concedes. | We may have spoken a few times, Green concedes. |
| And now he's saying he had several phone calls with Ashley over the weekend before BHS went bust.. https://t.co/q3nptKD0Yi | And now he's saying he had several phone calls with Ashley over the weekend before BHS went bust.. https://t.co/q3nptKD0Yi |
| 2.39pm BST | 2.39pm BST |
| 14:39 | 14:39 |
| The committee turn to the events of April, when BHS went into administration. | The committee turn to the events of April, when BHS went into administration. |
| Green denies that he triggered it - even though he refused to accept that £60m loan from Gordon Brothers. | Green denies that he triggered it - even though he refused to accept that £60m loan from Gordon Brothers. |
| Green says he doesn't accept that his decision to not let BHS off £35m charge pushed the company into administration | Green says he doesn't accept that his decision to not let BHS off £35m charge pushed the company into administration |
| But then Iain Wright MP reads a letter from the administrators, Duff and Phelps, showing that Green has asked him to attend a meeting. | But then Iain Wright MP reads a letter from the administrators, Duff and Phelps, showing that Green has asked him to attend a meeting. |
| Oooh: Iain Wright blows up Philip Green's evidence by reading out Duff + Phelps letter saying Green brought them in as administrator | Oooh: Iain Wright blows up Philip Green's evidence by reading out Duff + Phelps letter saying Green brought them in as administrator |
| Green explains that he was told on Friday 22 April that an unknown retailer was attempting a last-ditch rescue bid, but he didn’t know who [I think this is Sports Direct]. | Green explains that he was told on Friday 22 April that an unknown retailer was attempting a last-ditch rescue bid, but he didn’t know who [I think this is Sports Direct]. |
| But if it didn’t transpire, he [Green] was concerned that staff wouldn’t be paid the next week if a deal wasn’t agreed. | But if it didn’t transpire, he [Green] was concerned that staff wouldn’t be paid the next week if a deal wasn’t agreed. |
| 2.31pm BST | 2.31pm BST |
| 14:31 | 14:31 |
| Green looks like he might mislay his rag, when asked to clarify his commitment to BHS pensioners. | Green looks like he might mislay his rag, when asked to clarify his commitment to BHS pensioners. |
| We covered that five and half hours ago, he says, before repeating that he will meet with the pension regulator and try to agree a deal. | We covered that five and half hours ago, he says, before repeating that he will meet with the pension regulator and try to agree a deal. |
| Sir Philip still being v truculent "I answered that 5 1/2 hours ago. Can we get to the end?" | Sir Philip still being v truculent "I answered that 5 1/2 hours ago. Can we get to the end?" |