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Pensions Reform

And finally, I am sure that the whole House is grateful to you, Mr. Deputy Speaker, for allowing the statement to run on, so that so many hon. Members could get in. However, my right hon. Friend will know that there are probably more existing and future members of the failed Turner and Newall pension scheme in my constituency than anywhere else. We are hopeful that, if necessary, the pension protection fund will come to that scheme’s rescue, but the matter raises questions about employer contribution holidays, and about the relation between British law and the law of the other countries when multinational companies are involved. Does he envisage any changes to the operation of the PPF, or to the criteria by which it operates?