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| Sir Philip Green: Support grows among MPs to strip knighthood | Sir Philip Green: Support grows among MPs to strip knighthood |
| (35 minutes later) | |
| Some 115 MPs will back a move to strip Sir Philip Green of his knighthood. | Some 115 MPs will back a move to strip Sir Philip Green of his knighthood. |
| MPs are debating the proposal, the first time they will attempt to remove a knighthood from a member of the public in this way. | MPs are debating the proposal, the first time they will attempt to remove a knighthood from a member of the public in this way. |
| The move comes as Sir Philip is set to meet the Pensions Regulator this week to try to secure a deal over the collapse of the BHS's pension fund. | The move comes as Sir Philip is set to meet the Pensions Regulator this week to try to secure a deal over the collapse of the BHS's pension fund. |
| BHS, sold by Sir Philip last year, then collapsed with 11,000 jobs lost and a £571m pension deficit. | BHS, sold by Sir Philip last year, then collapsed with 11,000 jobs lost and a £571m pension deficit. |
| MPs mounted a cross-party attack on the businessman, with Labour's David Winnick branding Sir Philip "a billionaire spiv who should never have received a knighthood. A billionaire spiv who has shamed British capitalism". | MPs mounted a cross-party attack on the businessman, with Labour's David Winnick branding Sir Philip "a billionaire spiv who should never have received a knighthood. A billionaire spiv who has shamed British capitalism". |
| He added that his "billionaire's lifestyle" was a "form of provocation" to BHS employees and pensioners. | He added that his "billionaire's lifestyle" was a "form of provocation" to BHS employees and pensioners. |
| Frank Field, chairman of the Work and Pensions committee, began the debate about the collapse of BHS. | Frank Field, chairman of the Work and Pensions committee, began the debate about the collapse of BHS. |
| He said one of the main findings of his committee's report is that "literally nothing happened in BHS or Arcadia without Sir Philip knowing directly". | He said one of the main findings of his committee's report is that "literally nothing happened in BHS or Arcadia without Sir Philip knowing directly". |
| He likened Sir Philip to Napoleon. | He likened Sir Philip to Napoleon. |
| Do the right thing | Do the right thing |
| Mr Field said Sir Philip could have solved the problem easily and been of help in building a stronger pensions regime. | Mr Field said Sir Philip could have solved the problem easily and been of help in building a stronger pensions regime. |
| "We are dealing with a man who has huge sums in wealth. He could have dealt with the pensions problem and walked away smelling of roses," he said. | "We are dealing with a man who has huge sums in wealth. He could have dealt with the pensions problem and walked away smelling of roses," he said. |
| "He would have helped us begin to set the debate about how we deal with pension deficits. He had nothing to say and couldn't help us lead the debate." | "He would have helped us begin to set the debate about how we deal with pension deficits. He had nothing to say and couldn't help us lead the debate." |
| A range of MPs from across political parties lined up to denounce Sir Philip, once dubbed "King of the high street". | |
| Conservative MP Richard Fuller said: "Freedoms that are given to people who have enormous power over fellow citizens are based on people doing not only the legal thing, but the right thing. | Conservative MP Richard Fuller said: "Freedoms that are given to people who have enormous power over fellow citizens are based on people doing not only the legal thing, but the right thing. |
| "Were the actions of Sir Philip honourable? That is pertinent, because he received his honour for services to retail." | "Were the actions of Sir Philip honourable? That is pertinent, because he received his honour for services to retail." |
| Cheque book | Cheque book |
| Although the outcome of the debate won't be binding - it will significantly increase the pressure on the Honours Forfeiture Committee to take action, which has the final say. | Although the outcome of the debate won't be binding - it will significantly increase the pressure on the Honours Forfeiture Committee to take action, which has the final say. |
| Live updates: MPs debate BHS collapse | Live updates: MPs debate BHS collapse |
| "Philip Green is seen as a consummate deal maker," said Labour MP Iain Wright earlier, who chairs the Commons business, innovation and skills select committee. | "Philip Green is seen as a consummate deal maker," said Labour MP Iain Wright earlier, who chairs the Commons business, innovation and skills select committee. |
| "If he has the mind and the will to do something, it happens quickly. He came before us on the committee on the 15 June and said he'd sort it. We're discussing this on the 20 October. Is that really reflective of somebody who wants to sort this? He does need to get his cheque book out." | "If he has the mind and the will to do something, it happens quickly. He came before us on the committee on the 15 June and said he'd sort it. We're discussing this on the 20 October. Is that really reflective of somebody who wants to sort this? He does need to get his cheque book out." |
| But one MP voiced scepticism to the BBC about the timing, arguing it made the issue "essentially cash for honours". | But one MP voiced scepticism to the BBC about the timing, arguing it made the issue "essentially cash for honours". |
| A spokesman for the prime minister said any decision would be taken independently of the parliamentary debate: "There will obviously be a decision potentially made at some stage by the Forfeitures Committee. But that is an independent committee, the government has no role in that at all." | A spokesman for the prime minister said any decision would be taken independently of the parliamentary debate: "There will obviously be a decision potentially made at some stage by the Forfeitures Committee. But that is an independent committee, the government has no role in that at all." |
| However, in her party conference speech Theresa May appeared to single out Sir Philip for condemnation when she criticised "a director who takes out massive dividends while knowing that the company pension is about to go bust". | However, in her party conference speech Theresa May appeared to single out Sir Philip for condemnation when she criticised "a director who takes out massive dividends while knowing that the company pension is about to go bust". |
| Legal action | Legal action |
| Meanwhile the Pensions Regulator earlier said it was still waiting for Sir Philip Green to produce any "comprehensive" plan to help former BHS staff. | Meanwhile the Pensions Regulator earlier said it was still waiting for Sir Philip Green to produce any "comprehensive" plan to help former BHS staff. |
| Sir Philip has held several meetings with the Pension Regulator over the summer. | Sir Philip has held several meetings with the Pension Regulator over the summer. |
| The Labour MP Frank Field is pressing for the Pension regulator to take legal action against Sir Philip to make good the BHS pension deficit. | The Labour MP Frank Field is pressing for the Pension regulator to take legal action against Sir Philip to make good the BHS pension deficit. |
| Sir Philip has vowed several times to sort out the pension problem, telling MPs in June that his advisers were working on a "resolvable and sortable" solution. | Sir Philip has vowed several times to sort out the pension problem, telling MPs in June that his advisers were working on a "resolvable and sortable" solution. |
| On Monday, he told ITV that he was in a "very strong dialogue" with the pensions regulator to find a solution, but would not put a number on the level of financial support he would be willing to give. | On Monday, he told ITV that he was in a "very strong dialogue" with the pensions regulator to find a solution, but would not put a number on the level of financial support he would be willing to give. |
| 'Damning report' | 'Damning report' |
| A damning MPs' report on the High Street chain's failure, published in July, concluded Sir Philip had extracted large sums and left the business on "life support". | A damning MPs' report on the High Street chain's failure, published in July, concluded Sir Philip had extracted large sums and left the business on "life support". |
| At the time Sir Philip described the report as "the pre-determined and inaccurate output of a biased and unfair process". | At the time Sir Philip described the report as "the pre-determined and inaccurate output of a biased and unfair process". |
| Analysis: Simon Jack, BBC business editor | Analysis: Simon Jack, BBC business editor |
| Sir Philip's knighthood hinges on whether he makes good on a promise to secure the future of 20,000 BHS pension scheme members. | Sir Philip's knighthood hinges on whether he makes good on a promise to secure the future of 20,000 BHS pension scheme members. |
| As things stand, many of them face a cut in their pension benefits if the scheme ends up in the industry backed pension protection fund. | As things stand, many of them face a cut in their pension benefits if the scheme ends up in the industry backed pension protection fund. |
| Despite repeated assurances, so far he has tabled no firm offer. | Despite repeated assurances, so far he has tabled no firm offer. |
| But, the BBC has leaned that a meeting with the pensions regulator to work through obstacles to a final deal is scheduled before the end of the week. | But, the BBC has leaned that a meeting with the pensions regulator to work through obstacles to a final deal is scheduled before the end of the week. |
| The decision on whether to have a vote on Thursday on his knighthood rests with the speaker of the House of Commons. It falls to him to decide whether it is worth waiting to see if Sir Philip can produce a deal before MPs vote on whether to start the process of removing his title. | The decision on whether to have a vote on Thursday on his knighthood rests with the speaker of the House of Commons. It falls to him to decide whether it is worth waiting to see if Sir Philip can produce a deal before MPs vote on whether to start the process of removing his title. |
| MPs contacted by the BBC have expressed scepticism about this latest offer - one described it as essentially "cash for honours". | MPs contacted by the BBC have expressed scepticism about this latest offer - one described it as essentially "cash for honours". |
| BHS pension scheme members will care more about their retirement income than this game of parliamentary poker. | BHS pension scheme members will care more about their retirement income than this game of parliamentary poker. |
| Read more from Simon | Read more from Simon |