Policy Implications of Leaving the EU

Part of Oral Answers to Questions — Work and Pensions – in the House of Commons at 12:00 am on 11th July 2016.

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Photo of Debbie Abrahams Debbie Abrahams Shadow Secretary of State for Work and Pensions 12:00 am, 11th July 2016

The lack of planning by this Government post-Brexit is complacency verging on neglect. The FTSE 250 has already lost 10% of its value since the referendum outcome and that will impact on pension funds. Given that 5,000 of the 6,000 defined benefit pension schemes are currently in deficit and that the pensions regulator has raised concerns of additional risks to these schemes following the Brexit decision, what is the Secretary of State doing to protect the pensions of the millions of people who will be affected?