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Napoleon or billionaire spiv? MPs line up to take a shot at Philip Green Napoleon or billionaire spiv? MPs line up to take a shot at Philip Green
(about 2 hours later)
Politicians haven’t always been the best judge of standards in public life what with flipped homes, duck houses and moat cleaning having been the order of the day until their expense claims got rumbled. But not even the most venal of MPs would have dared to come up with the idea of pocketing at least £400m from their company before flogging on what was left of it to a three-times bankrupt for £1, so the Commons was surprised – delighted even – to find something on which everyone from all parties could agree. The moral high ground is always so much sweeter when it is allowed to stand unchallenged. Politicians haven’t always been the best judge of standards in public life, what with flipped homes, duck houses and moat cleaning having been the order of the day until their expense claims got rumbled. But not even the most venal of MPs would have dared to come up with the idea of pocketing at least £400m from their company before flogging on what was left of it to a three-times bankrupt for £1, so the Commons was surprised – delighted even – to find something on which everyone from all parties could agree. The moral high ground is always so much sweeter when it is allowed to stand unchallenged.
Labour’s Frank Field, joint chair of the combined work and pensions and business select committees, was given the honour of opening the debate on why Sir Philip Green was so objectionable. “I never knew Napoleon,” he observed – Field is a stickler for accuracy, “but if I had known him then I expect he would have been very like Philip Green.” It seemed a rather harsh judgment on the Frenchman whose only crime had been to invade a few countries. Field then went on list the long, and by now all too familiar charge sheet against the former owner of BHS. Secret share dealing, asset stripping, careful tax planning and all the other joys of the modern plutocrat.Labour’s Frank Field, joint chair of the combined work and pensions and business select committees, was given the honour of opening the debate on why Sir Philip Green was so objectionable. “I never knew Napoleon,” he observed – Field is a stickler for accuracy, “but if I had known him then I expect he would have been very like Philip Green.” It seemed a rather harsh judgment on the Frenchman whose only crime had been to invade a few countries. Field then went on list the long, and by now all too familiar charge sheet against the former owner of BHS. Secret share dealing, asset stripping, careful tax planning and all the other joys of the modern plutocrat.
It was left to Conservative Richard Fuller to move the amendment, supported by 113 other MPs, that Green should be stripped of his knighthood. Although Green may not have broken any laws by leaving many of his former employees without much in the way of a pension, Fuller said, he had failed to do the right thing. Over the summer Green had been given the chance to find his moral compass by making good on the promise he made to sort out the pension deficit when he had appeared before the select committee back in June, but had somehow not yet got round to it. By not acting honourably in business, he deserved to forfeit the honour he had been given for services to business.It was left to Conservative Richard Fuller to move the amendment, supported by 113 other MPs, that Green should be stripped of his knighthood. Although Green may not have broken any laws by leaving many of his former employees without much in the way of a pension, Fuller said, he had failed to do the right thing. Over the summer Green had been given the chance to find his moral compass by making good on the promise he made to sort out the pension deficit when he had appeared before the select committee back in June, but had somehow not yet got round to it. By not acting honourably in business, he deserved to forfeit the honour he had been given for services to business.
Thereafter MP after MP stood up to condemn Green. The joint select committee co-chair, Iain Wright, said Green was a corporate raider who “took rings from BHS fingers, starved it of food and water, beat it black and blue and then wanted credit for keeping it alive,” while Labour’s David Winnick dismissed him as a “billionaire spiv”. Along the way Green’s advisers and associates, Goldman Sachs, Grant Thornton and Lord Grabiner were all gunned down in drive-by collateral.Thereafter MP after MP stood up to condemn Green. The joint select committee co-chair, Iain Wright, said Green was a corporate raider who “took rings from BHS fingers, starved it of food and water, beat it black and blue and then wanted credit for keeping it alive,” while Labour’s David Winnick dismissed him as a “billionaire spiv”. Along the way Green’s advisers and associates, Goldman Sachs, Grant Thornton and Lord Grabiner were all gunned down in drive-by collateral.
What no one was willing to consider was that Green might not be quite so bothered about losing his knighthood as they were. While most MPs would be quite happy to hand over £400m – were they to have it – in exchange for a peerage, Green has shown that he values hanging on to the cash he and his wife have extracted from BHS rather more than the trappings of social preferment.What no one was willing to consider was that Green might not be quite so bothered about losing his knighthood as they were. While most MPs would be quite happy to hand over £400m – were they to have it – in exchange for a peerage, Green has shown that he values hanging on to the cash he and his wife have extracted from BHS rather more than the trappings of social preferment.
Nor did anyone really want to go into the more embarrassing issue that Green’s business practices had been well-known to the Commons when he had been given his knighthood back in 2006 and he could reasonably have expected everyone to have applauded his stewardship of BHS. Nor did anyone really want to go into the more embarrassing issue that Green’s business practices had been well known to the Commons when he had been given his knighthood back in 2006 and he could reasonably have expected everyone to have applauded his stewardship of BHS.
Before long there were only four Tories left in the house so it was left to the SNP to out-compete one another in their condemnations. The award for cheek went to Michelle Thomson, who resigned the SNP party whip, after being accused of building her buy-to-let portfolio by buying homes from indebted families at below-market prices using a solicitor who was later struck off for professional misconduct.Before long there were only four Tories left in the house so it was left to the SNP to out-compete one another in their condemnations. The award for cheek went to Michelle Thomson, who resigned the SNP party whip, after being accused of building her buy-to-let portfolio by buying homes from indebted families at below-market prices using a solicitor who was later struck off for professional misconduct.
By early afternoon it was all over with the house having voted unanimously that Green should be stripped of his knighthood. On a yacht in Monaco, Green stretched out on a sun lounger. Someone, somewhere had mistaken him for someone who gave a toss. By early afternoon it was all over, with the house having voted unanimously that Green should be stripped of his knighthood. On a yacht in Monaco, Green stretched out on a sun lounger. Someone, somewhere had mistaken him for someone who gave a toss.