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tabling member › label	Biography information for Andy McDonald
answer › answer text	%3Cp%3EAt the moment, train operating companies are liable for the full pensions risk during their franchise term. In the new East Midlands franchise, the operator is exposed to no additional risks or demands when compared to current franchisees. Indeed, the new franchise includes a risk sharing mechanism with the government, which reduces the risk that the operator will be exposed to. In this, the operator retains the risks that it is able to manage. The operator would be exposed to some upside/downside risk, but this risk would be shared with the Department.%3C/p%3E%3Cp%3E %3C/p%3E
answer › date of answer	2019-04-23

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registered interest

date

exactly:

or between:
and

answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member constituency

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member constituency

answering member printed

question first answered

answering member


label

tabling member


label

1111246

registered interest

date

10/04/2019

answering body

Department for Transport

answering dept id

answering dept short name

Transport

answering dept sort name

Transport

hansard heading

East Midlands Trains

house id

legislature

25259

	pref label	House of Commons

question text

To ask the Secretary of State for Transport, what pension liability has been accepted by Abellio on East Midlands trains in addition to the parent company bond.

tabling member constituency

Middlesbrough

tabling member printed

Andy McDonald

uin

243470

answer

is ministerial correction

date of answer

23/04/2019

answer text

<p>At the moment, train operating companies are liable for the full pensions risk during their franchise term. In the new East Midlands franchise, the operator is exposed to no additional risks or demands when compared to current franchisees. Indeed, the new franchise includes a risk sharing mechanism with the government, which reduces the risk that the operator will be exposed to. In this, the operator retains the risks that it is able to manage. The operator would be exposed to some upside/downside risk, but this risk would be shared with the Department.</p><p> </p>

answering member constituency

Harrogate and Knaresborough

answering member printed

Andrew Jones

question first answered

23/04/2019 16:26:21

answering member

3996

	label	Biography information for Andrew Jones

tabling member

4269

	label	Biography information for Andy McDonald