I think we must be concerned with all similar transactions in this space, because that is important for the reasons that we have given.

My hon.

Yes, I will. As my hon.

I am now alerted to that.

You will not forgive me, Mr Speaker, if I answer the second part of the question all over again, but in relation to the first part, the h

Yes, we will look at that. We want to consider all possible ways of assisting the more general landscape that my hon. Friend describes.

I agree with the hon. Lady. The point about the talent pipeline is very important.

As the right hon. Gentleman will appreciate, both are independent.

As I have said, I think that we need to look carefully at the balance between the elements that the hon. Gentleman has mentioned.

The Pension Protection Fund has over £30 billion-worth of assets and can cover these liabilities. On the hon.