Maxwell Communications Pension Plan

HC Deb 19 December 2002 vol 396 cc1025-6W

Mr. Todd

To ask the Secretary of State for Work and Pensions if he will make a statement on the outcome of his Department's discussions with representatives of the Maxwell Communications Pension Plan. [88315]

Mr. McCartney

The Government are aware of the difficulties surrounding the Maxwell Communications Pension Plan and sympathise with those affected.

We have had discussions with the Independent Trustee of the Plan, The Law Debenture Trust Corporation plc. The difficulties faced by the Plan are not connected to Maxwell's original fraud but reflect the subsequent performance of the pension fund in relation to the scheme's liabilities. As we have made clear to Law Debenture, this is an issue for the trustees, not the Government.