Changing the law on Company Liquidations
When companies become insolvent & are forced into Liquidation presently Banks & Creditors have first call on the assets to recover their loss. Recently in at least two high profile cases BHS & now Carillon this has left immense Pension Fund deficits which we the tax payer are expected to compensate. I would wish Parliament to make such changes to place employee's pensions first in line for asset recovery & reimbursement to protect workers pensions & ease the pain of employment loss.
Why is this important?
The Public purse has never been so strained with fewer persons or businesses paying in due to Tax avoidance avoidance , loopholes & policy , yet demand remains high in ever decreasing Public Services. High profile failures like these should not fall on the Public Purse but place the loss with the Banks & Creditors whose lack of financial prudence could well encouraged irresponsible borrowing & ultimate failure when calling for the companies liquidation.