Motion that this House has considered the regulation of defined benefit pension schemes. Motion lapsed (Standing Order No. 10 (6)).

Motion that this House has considered the regulation of defined benefit pension schemes. Motion lapsed (Standing Order No. 10 (6)).

I beg to move,

That this House has considered the regulation of defined benefit pension schemes.

After the heat of the debate on High Speed 2 that has just ended, I hope that we might be able to generate a little more light. The subject of defined-benefit pension schemes and their regulation...

I beg to move,

That this House has considered the regulation of defined benefit pension schemes.

After the heat of the debate on High Speed 2 that has just ended, I hope that we might be able to generate a little more light. The subject of defined-benefit pension schemes and their regulation...

The right hon. Gentleman will not be surprised to learn that there are many Shell pensioners in my constituency. I have been in correspondence with Shell about its decision last year not to award an inflation-matching increase in the pension, and it told me that it did not have to...

The right hon. Gentleman will not be surprised to learn that there are many Shell pensioners in my constituency. I have been in correspondence with Shell about its decision last year not to award an inflation-matching increase in the pension, and it told me that it did not have to...

It absolutely does. Representing a constituency that had the Sullom Voe oil terminal managed by BP for many years, I suspect that the reasons why the hon. Gentleman has Shell pensioners in his constituency and I have BP pensioners in mine are very similar.

It absolutely does. Representing a constituency that had the Sullom Voe oil terminal managed by BP for many years, I suspect that the reasons why the hon. Gentleman has Shell pensioners in his constituency and I have BP pensioners in mine are very similar.

I commend the right hon. Gentleman for bringing forward this debate. It is a critical issue, and it goes beyond the two pensions that he has referred to. Does he agree that the Government—I say this with great respect to them—have had adequate warning that we are heading towards a...

I commend the right hon. Gentleman for bringing forward this debate. It is a critical issue, and it goes beyond the two pensions that he has referred to. Does he agree that the Government—I say this with great respect to them—have had adequate warning that we are heading towards a...

The hon. Gentleman strikes at the reasons why I brought forward this debate. We might benefit from a wider and longer ventilation of the issues at some later stage, but we have 30 minutes today, so let us use it. I had the opportunity to discuss the issues yesterday with...

The hon. Gentleman strikes at the reasons why I brought forward this debate. We might benefit from a wider and longer ventilation of the issues at some later stage, but we have 30 minutes today, so let us use it. I had the opportunity to discuss the issues yesterday with...

With 60,000 BP pensioners impacted, it is unsurprising that I too have been contacted by constituents. There is a wider debate about the fact that if multinational companies such as BP and Shell are making these decisions, smaller companies will end up making similar decisions if something is not done....

With 60,000 BP pensioners impacted, it is unsurprising that I too have been contacted by constituents. There is a wider debate about the fact that if multinational companies such as BP and Shell are making these decisions, smaller companies will end up making similar decisions if something is not done....

I almost entirely agree with my hon. Friend. The way in which the BP pension fund works is that the trustees have virtually no discretion up to 5%, and then from 5% to 9% there is a discretionary level. In the last year, the BP trustees recommended 9% but the...

I almost entirely agree with my hon. Friend. The way in which the BP pension fund works is that the trustees have virtually no discretion up to 5%, and then from 5% to 9% there is a discretionary level. In the last year, the BP trustees recommended 9% but the...

It is a pleasure to serve under your chairmanship, Mr Davies. I am grateful to the right hon. Member for Orkney and Shetland (Mr Carmichael) for securing this debate. We had a good discussion on this matter yesterday, but I hope I can say a bit more today.

First and foremost,...

It is a pleasure to serve under your chairmanship, Mr Davies. I am grateful to the right hon. Member for Orkney and Shetland (Mr Carmichael) for securing this debate. We had a good discussion on this matter yesterday, but I hope I can say a bit more today.

First and foremost,...

I agree with most of what the Minister is saying, but there is something more that comes into play here, which is the question of light-touch regulation. Light-touch regulation only works if it is possible to proceed on the basis of good-faith acting by both parties, particularly the companies. Where...

I agree with most of what the Minister is saying, but there is something more that comes into play here, which is the question of light-touch regulation. Light-touch regulation only works if it is possible to proceed on the basis of good-faith acting by both parties, particularly the companies. Where...

I note the right hon. Gentleman’s point. I am also conscious of time, so I do not think that I will be able to make my entire legal presentation. He very kindly said in his speech that I was alive to the issues, which I hope I can demonstrate towards...

I note the right hon. Gentleman’s point. I am also conscious of time, so I do not think that I will be able to make my entire legal presentation. He very kindly said in his speech that I was alive to the issues, which I hope I can demonstrate towards...

I am grateful to the Minister for giving way; I will just pick up on the point made by the right hon. Member for Orkney and Shetland (Mr Carmichael). This issue is about good faith and promises being kept. If we look not just at the schemes that have been...

I am grateful to the Minister for giving way; I will just pick up on the point made by the right hon. Member for Orkney and Shetland (Mr Carmichael). This issue is about good faith and promises being kept. If we look not just at the schemes that have been...

I agree entirely. Since coming into this job, I met representatives of the Pensions Action Group— an organisation that covers employees of a number of companies that went into liquidation many years ago. Differing rules around indexation have caused very different outcomes for those individuals, so I am very conscious...

I agree entirely. Since coming into this job, I met representatives of the Pensions Action Group— an organisation that covers employees of a number of companies that went into liquidation many years ago. Differing rules around indexation have caused very different outcomes for those individuals, so I am very conscious...

On a point of order, Madam Deputy Speaker. I apologise for interrupting the business and the 10-minute rule Bill from my hon. Friend the Member for Bolsover (Mark Fletcher). During Prime Minister’s questions, the Leader of the Opposition claimed that Shell had not paid any taxes through the Government’s oil...

On a point of order, Madam Deputy Speaker. I apologise for interrupting the business and the 10-minute rule Bill from my hon. Friend the Member for Bolsover (Mark Fletcher). During Prime Minister’s questions, the Leader of the Opposition claimed that Shell had not paid any taxes through the Government’s oil...

To ask the Secretary of State for Energy Security and Net Zero, if he will make an assessment with the Secretary of State for Foreign, Commonwealth and Development Affairs of the potential impact of pollution produced by Shell in its crude oil production the Niger Delta on that region.

To ask the Secretary of State for Energy Security and Net Zero, if he will make an assessment with the Secretary of State for Foreign, Commonwealth and Development Affairs of the potential impact of pollution produced by Shell in its crude oil production the Niger Delta on that region.

To ask the Secretary of State for Energy Security and Net Zero, when he last met the leadership of Shell Energy.

To ask the Secretary of State for Energy Security and Net Zero, when he last met the leadership of Shell Energy.

Just before turning to my question, the Leader of the House quoted me at the Dispatch Box at the start of her contribution, outlining our support for the National Security Bill. I politely point out that she did leave out the bit where I had to come to this House...

Just before turning to my question, the Leader of the House quoted me at the Dispatch Box at the start of her contribution, outlining our support for the National Security Bill. I politely point out that she did leave out the bit where I had to come to this House...

I reiterate what I said in my opening remarks: I am incredibly grateful for the support that the hon. Lady and her colleagues have given to the lion’s share of legislation that we have introduced. I hope that that trend will continue as we bring forward critical legislation, such as...

I reiterate what I said in my opening remarks: I am incredibly grateful for the support that the hon. Lady and her colleagues have given to the lion’s share of legislation that we have introduced. I hope that that trend will continue as we bring forward critical legislation, such as...

To ask the Minister for the Cabinet Office, if he will publish the minutes of the meeting of the then Prime Minister with Shell plc on 5 May 2022 as listed in the Ministerial Transparency returns.

To ask the Minister for the Cabinet Office, if he will publish the minutes of the meeting of the then Prime Minister with Shell plc on 5 May 2022 as listed in the Ministerial Transparency returns.

The problem is that the Prime Minister could not stand up to a run-of-the-mill bully, so he has no chance of standing up to vested interests on behalf of working people. Take Shell, which made record profits this year of £26 billion. How much has it paid under his so-called windfall tax?

The problem is that the Prime Minister could not stand up to a run-of-the-mill bully, so he has no chance of standing up to vested interests on behalf of working people. Take Shell, which made record profits this year of £26 billion. How much has it paid under his so-called windfall tax?