Sir Philip Green like 'Napoleon and Maxwell' say MPs

MPs (BSE: MPSLTD.BO - news) have compared tycoon Sir Philip Green to Napoleon and Robert Maxwell as they debated stripping him of his knighthood.

Labour MP Frank Field compared the billionaire to Napoleon and said he had made no attempt to offer a "modest part of his fortune" to fill the pensions blackhole left by the collapse of BHS.

But the veteran MP Dennis Skinner disagreed, saying Sir Philip was more like Robert Maxwell because he had "robbed" his workers of their pensions.

Mr Field, chairman of the work and pensions committee, said there was no evidence that Sir Philip was "King of the High Street" but that "he was and is a successful asset stripper".

:: Sir Philip Green yet to make pensions proposal

He said that Sir Philip's purchase of BHS was not a rescue, as it was painted, but the acquisition of an already prosperous company that allowed him to go on to acquire the Arcadia group, which includes Topshop.

It had, said Mr Field, allowed £1.3bn to find its way to Lady Green.

Sir Philip sold BHS to the twice bankrupt former racing driver Dominic Chappell and the high street chain went into administration shortly afterwards leaving a £571m blackhole and causing the loss of 11,000 jobs.

Four months ago, he told MPs he would "sort" the pensions crisis faced by the 22,000 BHS employees.

However, the Pensions Regulator disclosed this week that it was yet to receive a "comprehensive written proposal".

:: Sir Philip wants probe dropped if he plugs pensions gap

Speaking in the House of Commons, Conservative MP Richard Fuller moved an amendment asking the Honours Forfeiture Committee recommend Sir Philip should be stripped of his knighthood.

He said that Sir Philip had, had the summer to "find his moral compass" and act to help BHS employees but had not done so.

As a result, he said, he should be stripped of the honour, awarded in 2006 for services to retail.

In August, Sir Philip reacted angrily when Sky News tried to quiz him on his failure to act as he holidayed on his £100m yacht, Lionheart, in the Greek islands.

:: Go away! Sir Philip's reaction to BHS questions

Labour MP David Winnick, who called Sir Philip a "billionaire spiv who had shamed British capitalism", said he was astounded that Mr Green was given a knighthood in the first place considering his well-known tax arrangements.

He reminded the House of Commons that Sir Philip's business was in his wife's name and she was a resident of Monaco so the amount of tax paid to the UK was minimal.

Business minister Margot James said the Prime Minister was willing to pass further legislation if necessary as a result of the outcome of investigations into BHS.

Directors at the collapsed firm are being investigated, she said, and action would be taken against them if they are found to have failed to act correctly.

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