MP who led fight against Sir Philip Green says 'appalling' BHS story isn't over yet

Sir Philip Green: 'We've got this milestone, but this isn't the end', says Iain Wright MP after billionaire plugs pension debt

Iain Wright has said Sir Philip Green's pension payment will serve as a powerful deterrent

Wednesday, March 1, 2017

The MP who has led the campaign to bring Sir Philip Green to account has said the "appalling" story of the BHS pension debt is far from over.

Iain Wright, chair of the Business Select Committee, said it was great that the controversial retail mogul has paid £363 million to plug the gaping hole in the BHS pension fund.

But Wright, speaking to Julia Hartley-Brewer, said people shouldn't think justice has been done.

As chair of the BSC, Wright has previously accused Green of "beating BHS black and blue" as part of a long-running campaign urging Green to bail out the retailer, which he sold for £1 last year - leaving behind an outstanding debt of roughly £570 million owed in pensions.

Today he told Julia: "Businessmen and women are horrified by the actions of Sir Philip Green. He’s created wealth, but then it’s been shifted off to Monaco.

"What this [Philip Green finally plugging the debt] does is much wider than the appalling tale of BHS and Sir Philip Green.

"It sends out an important message not to forgo obligations to pension schemes and people trying to save for retirement because the regulator will come after you. You have to take into account your moral and legal obligations.

"We’ve got this important milestone, but we’re not at the end of the story. Not by a longshot."