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| Version 6 | Version 7 |
|---|---|
| Sir Philip Green: MPs approve stripping BHS ex-chief of knighthood | Sir Philip Green: MPs approve stripping BHS ex-chief of knighthood |
| (35 minutes later) | |
| MPs have backed a call for former BHS owner Sir Philip Green to be stripped of his knighthood. | MPs have backed a call for former BHS owner Sir Philip Green to be stripped of his knighthood. |
| The motion is not binding as any final decision would have to be taken by the Honours Forfeiture Committee. | The motion is not binding as any final decision would have to be taken by the Honours Forfeiture Committee. |
| BHS was sold by Sir Philip last year, but then collapsed with the loss of 11,000 jobs and carrying a £571m pension deficit. | BHS was sold by Sir Philip last year, but then collapsed with the loss of 11,000 jobs and carrying a £571m pension deficit. |
| MPs backed the non-binding motion unopposed, meaning no full vote was needed. | MPs backed the non-binding motion unopposed, meaning no full vote was needed. |
| 'Billionaire spiv' | 'Billionaire spiv' |
| A lengthy three-hour debate was held, during which Sir Philip was attacked from MPs across the parties. | A lengthy three-hour debate was held, during which Sir Philip was attacked from MPs across the parties. |
| Which notable people have lost knighthoods? | Which notable people have lost knighthoods? |
| They did not hold back. Among the most notable criticisms was that he was like the autocrat Napoleon and the former boss of the Mirror group of newspapers, Robert Maxwell, as well as being an "asset-stripper". | They did not hold back. Among the most notable criticisms was that he was like the autocrat Napoleon and the former boss of the Mirror group of newspapers, Robert Maxwell, as well as being an "asset-stripper". |
| Labour's David Winnick branded Sir Philip "a billionaire spiv who should never have received a knighthood. A billionaire spiv who has shamed British capitalism". | Labour's David Winnick branded 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, had begun the debate about the collapse of BHS. | Frank Field, chairman of the Work and Pensions committee, had begun the debate about the collapse of BHS. |
| He said one of the main findings of his committee's report was 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 was that "literally nothing happened in BHS or Arcadia without Sir Philip knowing directly". |
| 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." |
| 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. |
| Not every MP present approved of the debate. | |
| Jacob Rees-Mogg, North East Somerset MP, said it was an abuse of the House of Commons for MPs to debate whether to strip Sir Philip of his knighthood. | |
| The Conservative backbencher said: "I don't think it is right for the House of Commons to be debating something that may lead to a penalty for someone without any proper judicial process." | |
| The key to justice, he said, "is that you have to have justice for those you don't approve of as much as those for who you do approve of". | |
| The MP added: "To call for another committee to strip somebody of an honour when the normal process is that an honour is only taken away if someone has committed a criminal offence is an abuse of the House of Commons." | |
| Cheque book | Cheque book |
| Although the outcome of the vote 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 vote won't be binding - it will significantly increase the pressure on the Honours Forfeiture Committee to take action, which has the final say. |
| Meanwhile the Pensions Regulator has said it was still waiting for Sir Philip Green to produce any "comprehensive" plan to help former BHS staff. | Meanwhile the Pensions Regulator has 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 and is expected to meet with them this week. | Sir Philip has held several meetings with the Pension Regulator over the summer and is expected to meet with them this week. |
| Mr Field is pressing for the Pension regulator to take legal action against Sir Philip to make good the BHS pension deficit. | Mr Field is pressing for the Pension regulator to take legal action against Sir Philip to make good the BHS pension deficit. |
| 'Damning report' | 'Damning report' |
| 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. |
| 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 |