1. National

MPs recommend Sir Philip Green be stripped of knighthood

MPs have approved a motion recommending former BHS owner Sir Philip Green should be stripped of his knighthood.

The proposal tabled in the Commons asked for the Honours Forfeiture Committee to recommend the billionaire businessman's knighthood is "cancelled and annulled".

MPs backed the non-binding motion unopposed, meaning no full vote was needed.

View all 18 updates ›

Green could pay 'hundreds of millions' into pension fund

Sir Philip Green could end up paying "hundreds of millions" from his personal fortune into the BHS pension fund.

Former Pensions Minister Baroness Ros Altmann told ITV News: "I hope that he will come up with enough money to make sure his former workers get more than they would have got from the Payment Protection Fund.

"It will mean him putting in a significant sum of money into the pension scheme."

ITV News Business Editor Joel Hills has said he would be expected to contribute "north of £200m".

He added: "It could be resolved today, if Sir Philip Green is minded to. He knows exactly what the pension regulator wants, what it's looking for - he's just got to agree to sign the cheque.

"Sir Philip Green has to come up with a sufficient amount of cash to keep the scheme running - for about 50 years and deliver on all those promises that he has made to the 20,000 members to the scheme.

"The deficit, officially, is £571m... but it will cost well north of £200m."

More on this story