Johnston Press: Administration

Part of the debate – in the House of Commons at 3:41 pm on 19th November 2018.

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Photo of Rachel Reeves Rachel Reeves Chair, Business, Energy and Industrial Strategy Committee 3:41 pm, 19th November 2018

I refer to my declaration in the Register of Members’ Financial Interests.

May I pick up on the point made by my hon. Friend Louise Haigh, who asked what will happen to people who are currently in receipt of pensions? I do not think it is correct to say, as the Secretary of State has said, that their pensions will not be affected, because they will be uprated in line with consumer prices index inflation rather than retail prices index inflation for years to come. If someone expects to carry on taking a pension for 20 years, they will lose out on thousands of pounds if their pension is uprated at this lower rate. Will the Secretary of State confirm that people who are currently in receipt of final salary pension schemes at JPI Media, to which they have now been transferred from Johnston Press, may indeed lose out to the tune of thousands of pounds because of these changes?