Proceeding contribution from Terry Rooney (Labour) in the House of Commons on Tuesday, 7 October 2008. It occurred during Opposition day on Unemployment in the UK.

Unemployment in the UK

I am sure that the hon. Gentleman does his homework, because he is quite bright. Does he not realise that most large US companies that go into chapter 11 dump their pension liabilities on the US equivalent of the Pension Protection Fund, and their employees suffer horrendously? That is how those companies get afloat again. For example, every major US airline has done that. What it means is that somebody somewhere suffers and pays for those companies to stay in business. It is not a no-risk proposition.

Secondary information

Type: Proceeding contribution
Reference: 480 c201
Session: 2007-08
Chamber / Committee: House of Commons chamber
Subjects: Employment Financial services Employment schemes Economic situation Redundancy Social security benefits Unemployment
Link: View this Proceeding contribution on www.publications.parliament.uk

Unemployment in the UK

Secondary information

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