October 2016
Philip Green has a lot to answer for and I hope he does the right thing and delves into his own pockets to help those who are likely to receive lower pensions payments as a result of the collapse of BHS.
You may be aware that two Parliamentary committees recently published a joint report into the collapse of BHS. This case shows why the Government is determined to tackle corporate irresponsibility, and reform the economy so it works for everyone, not just the privileged few.
The report was very concerning, and the Insolvency Service is now carrying out an accelerated investigation. Jobcentres are also standing by to provide support and advice to those who were affected by the closure of BHS. In the long run, we need to do more to prevent this kind of irresponsible and reckless behaviour.
On the question of honours being taken away, you may be interested to know that someone's honour can be taken away if they are, for example, sentenced to prison for at least three months for a criminal offence, or censured or struck off by a professional or regulatory body for something directly relevant to their honour. Other reasons for 'forfeiture', as this is known, can also be considered.
Cases are considered by the Honours Forfeiture Committee. If the Committee recommends an honour is withdrawn, the decision is sent to the Queen by the Prime Minister. The Queen decides if the honour should be forfeited. I understand that it has been reported that Sir Philip Green's knighthood is being 'kept under review'.
While Parliament can debate the validity of the Knighthood of Philip Green, it has not power to act over it. But the debate can send a signal to the Committee. You may be interested to know that there was no opposition to the motion put before Parliament yesterday to call on the Honours Forfeiture Committee to recommend his knighthood be cancelled and annulled.
