Rebecca Long-Bailey MP, Labour’s Shadow Business Secretary, commenting on reports that Sir Philip Green has agreed to pay £363m into the BHS pension fund, said:

“The 20,000 members of BHS’s troubled pension scheme will no doubt be relieved to see almost a year of uncertainty come one step closer to resolution. But this deal falls far short of justice being done.

“The £363m contribution – a capitulation to months of pressure, despite his claim that it is voluntary - is peanuts to billionaire Sir Philip, yet will leave an outstanding hole of £200m in the pension scheme.”