§ Mr. Ronald Brownasked the Secretary of State for Employment if he will list the number of firms forced into receivership by the actions initiated on behalf of the Midland Bank; how many people were made unemployed as a result of such actions; what has been the cost to the taxpayer in the form of redundancy and other payments; and what action he proposes to take to protect innocent and industrious workpeople from such actions.
§ Mr. Golding,pursuant to his reply [Official Report,22nd November 1976; Vol. 919, c. 949–50], gave the following information:
I am sorry that we have no information about the number of firms forced into receivership or people made unemployed or the cost to the taxpayer as a result of action initiated on behalf of the Midland Bank. Employees made redundant in a receivership or liquidation receive the full protection of the Redundancy Payments Act in the same way as any other redundant employee. If the insolvency occurred on or after 20th April 1976, the insolvency provisions of the Employment Protection Act 1975 also apply.