Lucy raises concerns about proposed GKN takeover

Today, I wrote to the Secretary of State for Business, Greg Clark MP, to flag my concerns about the proposed takeover of GKN Group by Melrose PLC.

You can read the contents of my letter below.

 

I also asked the Secretary of State for Work and Pensions, Esther McVey MP, about GKN pensions today in the House of Commons.

My question:

“GKN employs 340 people in Telford, and is currently the subject of a proposed hostile takeover. Will she [the Secretary of State] confirm that the safety of pensions will be a priority at her Department, in the event that the takeover proceeds?”

Secretary of State, Esther McVey:

“It is a matter for the pensions regulator.

“But we have the regulator in place; we have the pension protection fund in place; and we use these to make sure pensioners are safe and protected ”

 

GKN

I also asked the Secretary of State for Work and Pensions, Esther McVey MP, about GKN pensions today in the House of Commons.

 

Lucy Allan:

“GKN employs 340 people in Telford, and is currently the subject of a proposed hostile takeover. Will she [the Secretary of State] confirm that the safety of pensions will be a priority at her Department, in the event that the takeover proceeds?”

 

Secretary of State, Esther McVey:

“It is a matter for the pensions regulator.

“But we have the regulator in place; we have the pension protection fund in place; and we use these to make sure pensioners are safe and protected ”