I have been contacted by many constituents recently about Sir Philip Green. I do understand the concerns that have been expressed and accept that his conduct appears to be well below the standards to be expected from someone recognised as to be a leader of industry.

The vote which took place in the House of Commons recently regarding the removal of his knighthood was on an amendment to the motion being debated, which addressed BHS more widely. Such amendments passed in these backbench business debates are not binding on the Government. While the House of Commons may express its opinion in this way, the question of whether an honour should be taken away is exclusively for the Honours Forfeiture Committee to consider.

If the Committee recommends an honour is withdrawn, the decision is sent to the Queen by the Prime Minister. The Queen decides if the honour should be forfeited. I understand that it has been reported that Sir Philip Green's knighthood is being 'kept under review'.

My own view is that this is not a Parliamentary decision. If the House of Commons was to vote on the granting or taking away of honours I fear we would be spending a lot of time on such issues. I prefer to leave the process as it is.

On the issue of BHS in general, two Parliamentary committees recently published a joint report into the collapse of the company. The report was very concerning and the Insolvency Service is now carrying out an accelerated investigation. Jobcentres are also standing by to provide support and advice to those who were affected by the closure of BHS.

The Government is determined to tackle such corporate irresponsibility, and reform the economy so that it works for everyone.