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Blunkett resigns as Work and Pensions Secretary

David Blunkett has resigned as Work and Pensions Secretary after breaking the ministerial code of conduct by taking a directorship of DNA Bioscience before May’s election, without consulting an independent body which advises on these matters.
Blunkett was due to address the Work and Pensions select committee today but this meeting has been cancelled. There is no news of a replacement.

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The Pensions Regulator says UK plc’s 130bn pension deficit could be paid off within 10 years with minimum disruption to the economy. It believes that up to 80 per cent of companies could realistically close their deficits without facing more than a 25 per cent reduction in their free cashflow. But the TPR’s reliance on […]

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